HK inno.N announced on the 24th that it became the largest shareholder of the Japanese new drug research and development corporation Raqualia.
HK inno.N entered into a new share acquisition contract through a third-party allocation paid-in capital increase with Raqualia, acquiring 2,592,100 shares of Raqualia to secure an equity of 10.61%.
The two companies plan to collaborate on the future treatment of gastroesophageal reflux disease drug K-Cab's entry into the Japanese market and joint research and development of new drug pipelines.
Raqualia, a new drug development corporation established in 2008 by researchers from Japan's Pfizer Pharmaceuticals, transferred the substance technology for the gastroesophageal reflux disease new drug 'K-Cab' to HK inno.N in 2010. It currently has a total of 18 new drug pipelines in fields such as gastrointestinal diseases, pain, and anticancer antibodies, gene/protein drugs, and small molecule drugs. The substances developed by Raqualia are sold on the market as a total of four products, including human pharmaceuticals and veterinary drugs through technology transfers.
Gwak Dal-won, CEO of HK inno.N, noted, "Through the acquisition of Raqualia's equity, the two companies will be able to closely continue their collaboration in new drug research and development," and added, "I will actively seek various business cooperation opportunities, including K-Cab's entry into the Japanese market."