Dongkoo Bio&Pharma has bolstered its strategy for developing novel drugs based on antibodies and antibody-drug conjugates (ADCs) through an additional investment in Genome & Company.
On Tuesday, Dongkoo Bio&Pharma disclosed that it had entered into an agreement to acquire 1 billion KRW (approximately 677,000 USD) of the fourth convertible bond (CB) issued by Genome & Company. The total CB issuance amounted to 27 billion KRW (about 18.29 million USD), with participation from several institutional investors, including Dongkoo Bio&Pharma.
Dongkoo Bio&Pharma had previously invested about 3 billion KRW (around 2 million USD) in Genome & Company in 2020, and subsequently acquired an additional stake worth approximately 500 million KRW (about 338,000 USD) in the market. This latest CB acquisition brings their cumulative investment to 3.5 billion KRW (approximately 2.37 million USD).
A spokesperson for Dongkoo Bio&Pharma explained that the investment decision was based on a positive assessment of Genome & Company’s evolving research and development (R&D) strategy and its potential for long-term growth.
Initially, Genome & Company focused its efforts on developing early-stage immune oncology microbiome therapeutics and identifying novel Target entities. Recently, the company has expanded its R&D scope to include antibody and ADC drug development based on its proprietary Target discoveries.
Following successful technology transfers in 2024 and 2025, Genome & Company has demonstrated the global commercial viability and competitiveness of its newly discovered Target entities. This has led to market recognition of its potential to transition into a drug development company specializing in novel Target antibodies and ADCs.
Jo Yong-joon, Chairman of Dongkoo Bio&Pharma, stated that Genome & Company is swiftly evolving into a next-generation antibody and ADC drug development company, leveraging its capabilities in discovering novel Target entities and its antibody R&D expertise. The additional investment reflects the confidence in this strategic direction and growth potential.
He further added that Dongkoo Bio&Pharma intends to continue expanding its strategic investments and collaborative efforts with globally competitive biopharmaceutical companies.