Completion of Succession of Licensor Position for mRNA ERA Technology... Securing Right to Receive Up to $239M
Subsidiary Daewoong Pharmaceutical acquired the licensor position for Turn Bio's mRNA-based ERA technology via auction, securing the right to receive up to $239 million (approx. 320 billion won) in milestones and royalties from HanAll Biopharma
Upfront payment of $1 million (approx. 1.3 billion won) is non-refundable; development/regulatory/commercial milestones up to $238 million
The succession is not a new contract but a transfer of the original licensor's rights and obligations, conducted without additional capital raising
Final succession agreement completed on May 20, 2026 (U.S. time)
KOSPI Filing Information
Filing: [Correction of Description] Key Management Matters Related to Investment Decision (Major Management Matters of Subsidiary) (mRNA-Based Epigenetic Reprogramming of Aging (ERA) Technology Transfer Agreement Status Succession)