[Alpha Biz=(Chicago) Reporter Kim Jisun] Orion Group will become the largest shareholder of LegoChem Biosciences, a new drug development company that is drawing attention in the global market as the next-generation anticancer drug.

Orion announced on the 15th that Vice Chairman Huh In-chul and LegoChem Bio CEO Kim Yong-joo attended and signed a stake transfer contract. Orion will invest 5,487 billion won to buy a 25.73% stake in LegoChem Bio.

Orion secured a stake by investing 4,700 billion won in third-party paid-in capital increase and 78.7 billion won to purchase shares of LegoChem Bio founder Kim Yong-joo and CEO Park Se-jin. The due date for payment is March 29. Orion plans to incorporate LegoChem Bio as an affiliate and maintain its existing management and operating system.

Orion's acquisition of LegoChem Bio is aimed at becoming a food bio company beyond a food company. Founded in 2005, LegoChem Bio is recognized in the global market for the development of the next-generation anticancer technology, Antibody Drug Conjugate (ADC).

In December last year, it signed a technology transfer contract worth 2.2,000 trillion won with Janssen, a US pharmaceutical company.

 

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