Vivozon, Inc. announced that it has received KRW 2 billion in funding from EstechPharma Co., Ltd.
December 04, 2014 at 11:00 pm EST
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Vivozon, Inc. announced a private placement of 571,429 common shares at KRW 3,500 per share with new investor EstechPharma Co., Ltd. for gross proceeds of KRW 2,000,001,500 on December 2, 2014. On the same date, the transaction was approved by the board of directors of the company. The investment date for the transaction will be December 5, 2014. The company reported total assets of KRW 4,174,000,000, total liabilities of KRW 550,000,000, total stockholder's equity of KRW 3,624,000,000, sales revenue of KRW 3,000,000, and net loss of KRW 339,000,000 for the year ended December 31, 2013.
On December 5, 2014, Vivozon, Inc. closed the transaction.
Polaris AI Pharma Corp, formerly ESTECHPHARMA CO., LTD, is a Korea-based company engaged in the development and manufacture of pharmaceuticals. The Company is engaged in the manufacture and sale of peptic ulcer medicine, diabetes medicine, central nervous system medicine, antispasmodics, antipyretics, and painkillers. It has a research and development institute that develops active pharmaceutical ingredients. The company sells its products in domestic and international markets.
POLARIS AI PHARMA CORP. 
