Press Release

NanoGen Chairman Ho Nan-HLB Chairman Jin Yang Gon, appointed as directors of NEXT SCIENCE

2019-03-18 10:48
NEXT SCIENCE (CEO LeeEulGyoo) participated in the capital increase of KRW 10 billion in third-party allocation of shares for NEXT SCIENCEby Chairman Ho Nhan, the largest shareholder and board chairman of NanoGen, the only biosimilar and drug development company in ASEAN. The Chairman Ho Nan and his wife, Van Hong, will each invest 5 billion won.

According to the announcement, Chairman Ho Nan initially decided to invest the entire amount of the third party allocation, but changed in a way that Ho Nan and Mrs. Van Hong (Ho Nan’s wife), will each invest 5 billion won to acquire 3.26% stake. Accordingly, the date of payment is changed to April 19.

The company said that it changed the subject of the capital increase upon the request of Mr. Van Hong and that the approval process for foreign investment by the Vietnamese government was delayed than planned. Once paid, the Chairman and Mrs. Van Hong will become the second largest shareholder of NEXT SCIENCE.

In addition, NEXT SCIENCEannounced that it will appoint Jin YanGon, the Chairman of HLB, Ho Nan, the Chairman of Nano Gen, and Dandi Bio Park Young Min, a subsidiary of NEXT SCIENCE, as the new director at next month's general shareholders' meeting. NEXT SCIENCEacquired a stake in NanoGen as a strategic investor (SI) with institutional investors in December after acquiring Dandi Bio in October of last year to formalize its bio business.

In particular, on May 21, Dandi Bio's researchers visited Ho Chi Minh City's NanoGen headquarters in Vietnam to establish a strategic alliance for joint development of their pipelines.

According to the agreement, Dandi Bio's immunologic enhancer and NanoGen vaccine will be co-developed in Vietnam, joint development of sepsis and hepatitis B treatment, and joint research on highly pathogenic influenza.

"The collaboration between the two companies is fundamentally based on mutual trust, and will continue to be collaborative in the future," said Kim. "The additional investment of NEXT SCIENCE in NanoGen will be in the near future. Chairman Jin YangGon will soon join NanoGen as director."