The Board of Directors of OncoQuest Pharmaceuticals Inc. (KOSDAQ:A078590) announced to spin off Manufacturing Management Division on May 18, 2021. Under the transaction, shareholders of OncoQuest Pharmaceuticals will receive 0.22891367 share of OQP Bio Co., Ltd. for every 2 shares held in OncoQuest Pharmaceuticals. Post completion, biotechnology division can be named as Duol Corporation Holdings Co., Ltd. As of March 31, 2021, Manufacturing Management Division had total assets of KRW 11.6 billion ant total equity of 11.6 billion. The shareholder's meeting scheduled on June 25, 2021. As of June 23, 2021, shareholders meeting of OncoQuest Pharmaceuticals is to be held on July 9, 2021. As of July 8, 2021, shareholders meeting of OncoQuest Pharmaceuticals is to be held on July 23, 2021. Completion is scheduled on July 27, 2021. As of June 23, 2021, transaction is expected to close on August 11, 2021. As of July 2, 2021, transaction is expected to close on August 21, 2021. As of July 8, 2021 transaction is expected to close on August 25, 2021.