Synergy Innovation Co., Ltd. (KOSDAQ:A048870) entered into a contract to acquire 39% stake in Intro Biopharma Co., Ltd. from Seokyong Park and Chaeyoung Hong for KRW 2 billion on October 24, 2017. Under the terms of the transaction, Synergy Innovation Co., Ltd. will acquire 3,900 shares at KRW 510,000 per share. In a related deal, Synergy Innovation Co., Ltd. will acquire 2,540 new shares of Intro Biopharma Co., Ltd. at KRW 800,000 per share and will hold 51.36% stake upon completion of both transaction. For the year ended December 31, 2016, Intro Biopharma Co., Ltd. reported total assets of KRW 3.58 billion, total capital of KRW 522 million, sales of KRW 2.09 billion, and net loss of KRW 57 million. The transaction was resolved by the board of directors of Synergy Innovation Co., Ltd. The transaction is expected to close on October 24, 2017.