CTCBIO Inc. (KOSDAQ:A060590) announced a private placement of 1,628,397 common shares at a price of KRW 6,141 per share for gross proceeds of KRW 9,999,985,977 on March 22, 2021. The transaction will include participation from Bridge Co., Ltd for 651,359 shares, Hwail Pharmaceutical Co.,Ltd. (KOSDAQ:A061250) for 488,519 shares and KMT Lab Co., Ltd. for 488,519 shares. The securities to be issued will have a hold period of one year.

The transaction is expected to close on April 1, 2021. The transaction was approved by the board of directors of the company. The company will issue securities through third part allotment method.