Kolon TissueGene, Inc. announced a private placement of 794,000 common shares at a price of $37.327171 per share for gross proceeds of $29.637,774 on August 12, 2022. The transaction will include participation from returning investors, Kolon Corporation for 716,259 common shares and individual investor, Lee Woong-yeol for 77,741 common shares. All securities to be issued must be held for one year.

The transaction has been approved by the board of directors of the company and is expected to close on August 26, 2022.