[Edaily Reporter KIM SAE-MI ] DuChemBio Co.,LTD.(176750)will merge with its radiopharmaceutical research and development (R&D) subsidiary, Radio D&S Labs, through an absorption merger. Through the merger, the company plans to consolidate its R&D organization at its headquarters and fully launch contract development and manufacturing (CDMO) of radiopharmaceuticals and the development of new therapeutic radiopharmaceuticals (RPT).
DuChemBio Co, LTD announced on the 23rd that it has decided to merge with Radio D&S Labs.
Radio D&S Labs is a wholly-owned subsidiary of DuChemBio Co, LTD, established in April 2024 as a company specializing in the research and development of radiopharmaceuticals and nuclear medicine imaging technologies. DuChemBio Co, LTD acquired all shares of Radio D&S Labs that same year, making it a subsidiary.
DuChemBio Co, LTD will be the surviving company, and Radio D&S Labs will be dissolved following the merger. The merger ratio has been set at 1:0 in favor of DuChemBio Co, LTD. The merger will proceed as a merger without a capital increase, meaning no new shares will be issued during the process.
This merger will be conducted as a small-scale merger. The shareholders’ meeting required to approve the merger will be replaced by a resolution of the board of directors, and DuChemBio Co, LTD shareholders will not be granted a right to demand the purchase of their shares.
However, if a shareholder holding 20% or more of the total issued shares notifies the company in writing of their opposition within the specified period, the merger cannot proceed under the small-scale merger procedure. The period for submitting objections to the merger is from the 6th to the 20th of next month. The period for creditors to file objections is from September 1 to October 1, and the merger effective date and scheduled date for merger registration is October 2.
DuChemBio Co, LTD plans to use the merger as an opportunity to integrate Radio D&S Labs’ radiopharmaceutical candidates and imaging technologies with its own production, quality control, and product approval capabilities. The aim is to streamline the decision-making structure between the R&D and production organizations to enhance the efficiency of its radiopharmaceutical CDMO business and its in-house RPT new drug development.
Dr. Seung-jun Oh, founder of Radio D&S Labs, was appointed Chief Technology Officer (CTO) of DuChemBio Co, LTD following the merger. As CTO, Dr. Oh participated in the development and regulatory approval of “18F-FP-CIT,” a radiopharmaceutical for diagnosing Parkinson’s disease, and “18F-FES,” a radiopharmaceutical for diagnosing recurrent and metastatic breast cancer.
He also contributed to the development of artificial intelligence (AI) technology that predicts late-stage images by analyzing early-stage positron emission tomography (PET) imaging data. The underlying technology has been patented in both South Korea and the United States, and DuChemBio Co, LTD is currently pursuing its commercialization.
DuChemBio Co, LTD expects CTO Oh to be responsible for establishing a full-cycle CDMO system, covering everything from the discovery of radiopharmaceutical candidates to process and quality development, regulatory approval, and production. The development of new therapeutic radiopharmaceuticals, which has been conducted jointly with Radio D&S Labs, will also be integrated into DuChemBio Co, LTD’s internal operations following the merger.
Kim Sang-woo, CEO of DuChemBio Co, LTD, stated, “With the addition of CTO Oh, we have acquired the CDMO capabilities to provide one-stop services from candidate development to regulatory approval,” adding, “We will develop Korea into a hub for supplying radiopharmaceuticals to the Asia-Pacific region, encompassing China, Japan, and Taiwan.”
