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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] Global investment bank J.P. Morgan has become the second-largest shareholder in AprilBio, a startup founded by faculty members of Kangwon National University, led by CEO Cha Sang-hoon.
This marks J.P. Morgan's first time becoming a major shareholder in a South Korean biotech company.
J.P. Morgan Securities PLC recently disclosed that it holds a 6.03% stake in AprilBio, including shares held by related parties. The holding is stated to be for "simple investment" purposes.
AprilBio has garnered attention recently due to the capital gain realized by its former largest shareholder, Yuhan Corporation. Yuhan disposed of its entire 9.84% stake in AprilBio, earning a profit of 22.1 billion KRW.
Meanwhile, AprilBio's stock price surged after it signed a technology export contract worth approximately 600 billion KRW with the U.S. company Evomune in June, for its self-inflammatory disease treatment "APB-R3." The company also reported an operating profit of 13.2 billion KRW for the third quarter of this year.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
