Genome & Company will enter the CMO business by acquiring management rights of List Biological Laboratories, a US Microbiome CDMO (Consignment Development and Production) company.
Genome & Company held an online meeting on the 8th and announced that it will become a fully integrated pharmaceutical company (FIPCO) capable of both research and development and production.
Genome & Company decided to acquire 60% (960,000 6,502 shares) of List Lab for 31.2 billion won.
A company official said, "The acquisition amount is 31.2 billion won, and Genome & Company has 93 billion won in cash on a semi-annual basis.".
Genome & Company plans to produce some of its microbiome new drugs in List Lab while maintaining independent operation of List Lab.
Reporter Lee Ji-sun stockmk2020@gmail.com
