Kolon Biotech, Inc. announced a private placement of 100,000 common shares at an issue price of KRW 15,000 for proceeds of KRW 1,500,000,000 on April 11, 2023. The transaction will include participation from returning investor Kolon Life Science Inc currently owns 100% stake. The company will issue the shares pursuant to shareholder allocation method.

The transaction has been approved by the board of directors of the company.