GC Corp.'s Subsidiary GC Biopharma Sells Entire Curevo Stake to Eli Lilly for ~460 Billion Won... Securing Funds for New Business and Expected Large Disposal Gain
Subsidiary GC Biopharma decides to sell its entire stake (21,075,336 shares) in US biotech Curevo (developing shingles vaccine) to global pharma Eli Lilly
Total consideration of approximately 459.9 billion KRW, representing 15.48% of total assets, structured as upfront and milestone payments
Purpose: secure funds for new business investments, significantly boosting GC Corp.'s consolidated cash position
Curevo's 2025 year-end equity was about 86.9 billion KRW (accumulated losses), while the sale price is about 5.3 times that, implying a substantial disposal gain
Transaction expected to close by August 24, 2026, subject to regulatory approvals and conditions, with potential additional milestone receipts
[AI Comprehensive Analysis]This stake sale substantially improves GC Corp.'s financial health and eliminates risks from an early-stage biotech investment, likely acting as a positive catalyst for the stock price
KOSPI Filing Information
Filing: Decision on Disposal of Stocks and Investment Securities in Other Corporations (Major Management Matters of Subsidiary)