NKGen Biotech Completes NKMax Acquisition, Boosts Cell Therapy Ambitions
AI-Generated Summary
NKGen Biotech has successfully acquired a majority stake in NKMax Co., Ltd. for approximately $16.9 million, emerging from NKMax's bankruptcy. This strategic acquisition grants NKGen full control over global manufacturing infrastructure, intellectual property, and commercialization rights for its cell therapy products. The move transforms NKGen into a vertically integrated company, overcoming past financial challenges stemming from NKMax's difficulties. Funding was provided by AlpineBrook Capital and NKGen CEO Dr. Paul Y. Song, securing NKMax's operations through 2026 and accelerating NKGen's lead Alzheimer's therapy, troculeucel.
In a nutshell
This acquisition represents a critical turning point for NKGen, allowing it to consolidate its position in the competitive cell therapy market by gaining full control over its supply chain and intellectual property. By overcoming previous financial instability, NKGen is now strategically positioned to accelerate the development and global commercialization of its promising Alzheimer's treatment, troculeucel, and pursue further partnerships in Asia and the Middle East.
Source: The Manila Times
