Domestic office furniture corporation KOAS is transforming into a pharmaceutical and biotechnology corporation.
On the 24th, KOAS announced plans to invest a total of 50 billion won in the antibody-based drug development company Novelty Nobility, incorporating it as a subsidiary and becoming the largest shareholder.
A KOAS official noted, "Novelty Nobility develops treatments for allergies and autoimmune diseases, as well as next-generation antibody-drug conjugates (ADC) for cancer treatment," and added, "We plan to invest 30 billion won by the 11th of next month and an additional 20 billion won next year."
The company issued 20 billion won worth of convertible bonds (CB) targeting Dahlia Cooperative to secure acquisition funds. The CB conversion price is 4,293 won, and the maturity date is September 11, 2027. As of the 22nd, KOAS's stock price is 11,270 won.