Regenerative medicine company PharmaResearch said on the 26th that it will sell half of its CTCBIO equity to Bionote.
With this sale, PharmaResearch's CTCBIO stock equity ratio will decrease from 21.21% to 10.61%, and Bionote's CTCBIO equity will be 23.04%.
PharmaResearch had been a co–largest shareholder of CTCBIO along with SDB Investment and Bionote, but with this transaction, Bionote becomes the largest shareholder and PharmaResearch steps down from its co–largest shareholder status. SDB Investment is a core affiliate of SD Group, which controls Bionote and SD BIOSENSOR, and Bionote and SDB Investment are companies under one roof.
PharmaResearch explained the equity sale as "a decision to enhance consistency and execution in decision-making as CTCBIO shifts to a sole-management system."
PharmaResearch said it plans to focus its capabilities on core businesses. The company said that, using this equity adjustment as a springboard, it will push ahead in earnest with its global growth strategy, including advancing its regenerative medicine core business, accelerating the European market entry of "Rejuran," and achieving early establishment of its cosmetic brands in the U.S. market. It also said it plans to continue technological cooperation and a strategic partnership with CTCBIO in the pharmaceutical and biotech fields.
A company official said, "This measure is a structural decision to enhance PharmaResearch's ability to execute its global strategy and to focus resources on core businesses so as to raise shareholder value and corporate competitiveness," adding, "We plan to maintain our ongoing cooperative relationship with CTCBIO."