Bridge Biotherapeutics, Inc. announced that it expects to receive KRW 5.9999904 billion in funding from LegoChem Biosciences, Inc.

Bridge Biotherapeutics, Inc. announced a private placement of 527,425 registered convertible preferred shares at a price of KRW 5,688 per preferred share for gross proceeds of KRW 2,999,993,400, and 600,600 common shares at a price of KRW 4,995 per share for gross proceeds of KRW 2,999,997,000; for aggregate gross proceeds of KRW 5,999,990,400 on August 28, 2023. The company is raising funding through third-party allotment paid-in capital increase method. The transaction has been approved by the board of directors of the company.

The transaction included participation from returning investor, LegoChem Biosciences, Inc.