Huons Invests 14.3 Billion Won to Acquire Majority Stake in PanGen Biotech

• Huons announces a 14.3 billion won investment to acquire a 31.5% stake in PanGen Biotech, expanding into biopharmaceutical contract manufacturing.

• The acquisition strengthens Huons’ capabilities in biopharmaceutical R&D, focusing on human-derived hyaluronidase development and production.

Huons, a Korean healthcare company, announced today its acquisition of a 31.5% stake in PanGen Biotech, representing a strategic 14.3 billion won investment. This move will establish Huons as the largest shareholder in PanGen, enabling it to expand into the biopharmaceutical contract development and manufacturing (CDMO) sector.

The acquisition involves purchasing 2.6 million shares through existing shares and a third-party capital increase. The stock purchase agreement was signed on 5 November with CG Invites, the current primary stakeholder of PanGen. Huons’ stake will amount to nearly 4 million shares in total, marking a significant increase in its influence over PanGen. Following the completion, Huons plans to secure management rights through an extraordinary general meeting, bringing PanGen under its corporate umbrella as a subsidiary.

This acquisition supports Huons’ goal to grow in the biopharmaceutical industry, providing a solid production base for biopharmaceuticals, including the development of human-derived hyaluronidase. PanGen’s resources, such as Good Manufacturing Practice (GMP) facilities and the proprietary PanGen CHO-TECH cell line technology, are expected to enhance Huons’ manufacturing and R&D capabilities.

In June, PanGen began collaborating with Huons Lab, a Huons subsidiary, through a validation contract for producing clinical samples of human-derived hyaluronidase. This resulted in Huons Lab receiving regulatory approval for clinical trials of the enzyme in August, further supporting Huons’ biopharma development plans.

A Huons representative commented, “We plan to enter the new biopharmaceutical CDMO business…to lead the healthcare market by maximizing synergy among family companies.” This partnership aims to leverage PanGen’s expertise to drive Huons’ growth in biopharma manufacturing and development.