SAMSUNG BIOLOGICS’ 2.665 Trillion Won Rights Offering a SuccessSAMSUNG BIOLOGICS recorded a subscription rate of 96.83% in the rights offering conducted on the 9th and 10th for existing shareholders and the employee stock ownership association.
Subscriptions were received for 2,198,146 of the 2.27 million shares scheduled for issuance. Existing shareholders holding subscription rights subscribed for 1,762,046 shares, while oversubscriptions totaled 30,670 shares. The employee stock ownership association also subscribed for 405,430 shares of its allocated portion.
Approximately 98.7% of the shares allocated to existing shareholders were subscribed. SAMSUNG C&T CORPORATION and SamsungElectronics also contributed to the large-scale fundraising by subscribing to all of their allocated shares—782,818 and 567,503 shares, respectively.
The issue price for the new shares is 1,174,000 won per share. SAMSUNG BIOLOGICS will raise a total of 2.665 trillion won through this rights offering.
After the subscription by existing shareholders, 71,854 shares remained unsubscribed, and SAMSUNG BIOLOGICS conducted a subscription for retail investors on the 12th and 13th. The payment date is the 17th, and the new shares are scheduled to be listed on the 30th.
The funds raised will be used to acquire the Swiss peptide contract development and manufacturing organization (CDMO) company, Polypeptide Group. SAMSUNG BIOLOGICS agreed last July to acquire Polypeptide Group for 1.46 billion Swiss francs (approximately 2.7 trillion won). This is the largest merger and acquisition (M&A) ever undertaken in South Korea’s pharmaceutical and biotech industry.
Polypeptide Group is a CDMO specializing in peptides with production facilities in Switzerland, the United States, France, Belgium, Sweden, and India. It provides services covering the entire process, from active pharmaceutical ingredient (API) development to commercial production.
SAMSUNG BIOLOGICS had originally planned to use approximately 2.7 trillion won from the proceeds of a rights offering to fund the acquisition, with the remaining approximately 300 billion won earmarked for the expansion of production facilities at its Songdo Bio Campus 2. However, fluctuations in the stock price led to a lower issue price for the new shares, reducing the amount raised. This is why the funds raised this time will be allocated to the acquisition of Polypeptide.
HanmiPharm’s MASH New Drug Demonstrates Efficacy in Phase 2b Clinical Trial“Epinopegduotide,” a MASH therapeutic candidate developed by HanmiPharm and licensed to U.S.-based Merck (MSD), also drew attention this week.
On the 9th (local time), MSD announced that Epinopegduotide met its primary endpoint in a global Phase 2b clinical trial. The study results were presented at the American Association for the Study of Liver Diseases (AASLD) Annual Meeting and simultaneously published in the international journal *The Lancet*.
This clinical trial involved 386 adult patients diagnosed with MASH and stage 2 or 3 liver fibrosis via liver biopsy. Of these, 381 were assigned to groups receiving 4 mg, 7 mg, or 10 mg of epinopegduotide, a placebo, or 2.4 mg of semaglutide.
Patients received the treatment via subcutaneous injection once weekly for 52 weeks. The primary endpoint was the proportion of patients in whom MASH resolved without worsening liver fibrosis.
At Week 52, the proportion of patients with resolved MASH was 56% in the 4 mg epinopegduotide group, 63% in the 7 mg group, and 61% in the 10 mg group. In the placebo group, this figure was 13%. All three dose groups demonstrated statistically significant improvements compared to the placebo.
The proportion of patients who experienced at least one-stage improvement in liver fibrosis without worsening MASH symptoms was 43% in the 4 mg group, 52% in the 7 mg group, and 34% in the 10 mg group. The placebo group recorded 21%. Notably, the 7 mg group showed the highest response rates for both MASH resolution and liver fibrosis improvement.
Epinopegduotide is a dual-acting agent that simultaneously activates the glucagon-like peptide-1 (GLP-1) receptor and the glucagon receptor. It works by regulating appetite and blood glucose levels via GLP-1 while promoting energy expenditure and fat metabolism through glucagon action, thereby reducing fat accumulation in the liver.
Developed using HanmiPharm’s “Lapscovery” sustained-release platform, it is designed for once-weekly administration. It has also received Fast Track designation from the U.S. Food and Drug Administration (FDA) for the treatment of MASH.
Epinopegduotide is a drug candidate that HanmiPharm licensed to Janssen in 2015 but reacquired the rights to in 2019. After shifting the indication from obesity and diabetes to MASH, HanmiPharm re-licensed the technology to MSD in 2020.
The deal is valued at up to $870 million, including an upfront payment of $10 million. The agreement is structured so that HanmiPharm can receive additional royalty payments based on progress through the clinical development, regulatory approval, and commercialization phases.
