SK Biopharm is set to inject approximately 512 billion KRW (about 344 million USD) into its U.S. research and development (R&D) arm, SK Life Science Labs.
On March 6, South Korea’s Financial Supervisory Service’s electronic disclosure system revealed that SK Biopharm has decided to participate in a capital increase for its subsidiary. The company will acquire 218.75 million new shares of SK Life Science Labs.
The shares are priced at 234.3 KRW (about 0.16 USD) each, bringing the total investment to 512 billion 50.5 million KRW (about 370 million USD).
This capital raise is aimed at securing operating funds for SK Life Science Labs, with SK Biopharm fully backing the initiative through a cash contribution.
The newly acquired funds will be channeled into research and development (R&D) operations, with a focus on preparing clinical trials for key pipeline projects. The share acquisition is slated for March 11.