Following the news that Inventage Lab is acquiring the management rights of Quratis, Quratis' stock price is strong in early trading on the 3rd.
As of 9:59 a.m. on that day, Quratis is trading at 825 won, up 65 won (8.55%) from the previous trading day.
Inventage Lab, a micro-sphere long-acting injection and lipid nanoparticle (LNP) platform corporation, announced on the 31st of last month that it will acquire the management rights of Quratis after the market closed.
Inventage Lab plans to invest 25 billion won by March through the acquisition of Quratis' convertible bonds and participation in a paid-in capital increase of common stock. If including the common stock conversion amount of the convertible bonds, it will hold about 40% of Quratis' equity, securing the position of largest shareholder. At the same time, Inventage Lab is also trading at 17,850 won, up 2.82% from the previous trading day.
Kim Sung-jun, the CEO of Quratis, said, "With this transaction, we expect our vaccine development capabilities and contract development and manufacturing organization (CDMO) competitiveness to be further enhanced by integrating Inventage Lab's funds and technology."
Kim Joo-hee, the CEO of Inventage Lab, noted, "The synergy created by the two companies will mark an important turning point that significantly enhances the competitiveness of the Inventage Lab platform in the global market."