Dx & Vx Co., Ltd. agreed to acquire Korea Biopharm Co., Ltd. from Jang, Byung Ha, Heo, Won Jung, Kim, Min E, Jang, So Yeon, Kim, Sung Gon and Hyun, Mi Ok for approximately KRW 15 billion.

Dx & Vx Co., Ltd. agreed to acquire Korea Biopharm Co., Ltd. from Jang, Byung Ha, Heo, Won Jung, Kim, Min E, Jang, So Yeon, Kim, Sung Gon and Hyun, Mi Ok for approximately KRW 15 billion on September 15, 2022. As a part of transaction Dx & Vx Co., Ltd. is acquiring 104,976 shares. Consideration will be paid in cash.

The transaction will be financed by issuance of convertible bonds. For the year ended December 31, 2021 Korea Biopharm reported Total Assets of KRW 11.4 billion, Sales of KRW 13.6 billion and Net profit of KRW 1.3 billion. The transaction is expected to complete on October 4, 2022.