HLB Innovation said on the 6th that it will issue convertible bonds (CB) worth 40.5 billion won to accelerate clinical trials of its subsidiary Verismo Therapeutics' next-generation chimeric antigen receptor T-cell (CAR-T) therapy.
HLB Innovation said it held a board meeting that day and decided to issue the CB.
The newly issued CB carries a coupon interest rate of 0.0% and a yield to maturity of 2.0%, with the maturity date set for May 15, 2029. The conversion price is 25,885 won, and the payment date is scheduled for May 15, 2026.
HLB Innovation explained that it moved to preemptively raise funds to speed up clinical trials for its subsidiary Verismo Therapeutics' next-generation CAR-T Therapy and to strengthen its global negotiating power.
In the CB issuance process, the company applied a deal structure that secures a call option from all investors.
An HLB Innovation official said, "While we are currently posting a stable profit in our core semiconductor business and have sufficient cash liquidity, so there is no strain on short-term clinical operations, funding capacity is an important variable in global business development negotiations. We decided on this financing to respond preemptively to an uncertain market environment and to reliably support Verismo's next clinical trial."