Kolon Biotech, Inc. announced that it will raise 360,000 shares at a price of KRW 14,200 per share for gross proceeds of KRW 5,112,000,000 on July 12, 2023. The transaction will include participation from returning investor, Kolon Life Science Inc. The company will issue shares through shareholder allocation method. The transaction has been approved by the board of directors of the company.

The company is expected to close the transaction on July 21, 2023.