Elevar Therapeutics, Inc. announced a private placement of 8,656,286 shares at a price of KRW 6,720.512255 per shares for gross proceeds of KRW 58,174,676,146 on August 9, 2023. The transaction will include participation from returning investor, HLB Co., Ltd. with 99.98% stake post completion of the transaction. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on August 11, 2023.