HanAll Biopharma, Approved for Clinical Trial Phase 1 of HL0..
- Full Repayment of 17.8 billion KRW of Debt to Improve Financial Structure and Fund Use
HanAll Biopharma(CEO Seung-kook Park and Jae-chun
Yun) has announced that the company has repaid the full debt of 17.8 billion
KRW On 30th,.
HanAll Biopharma has increased the capital
of 56.6 billion KRW by issuing new stocks to the largest shareholder, Daewoong
Pharmaceutical, in the end of July, and out of 56.6 billion KRW from the
paid-in capital increase, the company has decided to use 17.8 billion KRW to
repay debts for improvement of financial structure and efficient fund use.
Moreover, HanAll Biopharma will invest in
plants and R&D of new medicines.
One of the staffs of HanAll Biopharma has
explained, “The sales of the cephalosporin antibiotics Tomiporan under
licensing as a new medicine in China will be greater than expected, and with
cross selling with Daewoong Pharmaceutical, the sales from fluid will expand as
well. Therefore, we are planning to invest in specialized plants for fluid and
injections.”
Furthermore, he has mentioned, “In R&D
investment, the fund from paid-in capital increase will be used for global
licensing out of new bio medicine projects and boosting of clinical trial of
composites, and the joint project between HanAll and Daewoong is being planned
as well.”
With this repayment of debt, the annual
interest of 800 million KRW will be saved, and the financial stability of HanAll
will improve greatly.