Core Viewpoint - NKGen Biotech has been selected as the preferred stalking horse bidder for NKMax Co., Ltd. in its court-managed rehabilitation process, which is similar to Chapter 11 in the US, and this acquisition is expected to secure global IP rights for NKGen, allowing commercialization of troculeucel in various markets [2][3][4] Group 1: Acquisition Details - NKGen's proposal includes up to $18 million in committed funding from a third-party investor [2] - The acquisition process will involve a public offering, with NKGen having the final right of first refusal on any other qualified offers [2] - The final decision and rehabilitation plan approval by NKMax's creditors and the court is expected in February 2025, with closing anticipated thereafter [2] Group 2: Intellectual Property and Commercialization - NKMax currently holds master global rights to the intellectual property for troculeucel and other proprietary IP licensed to NKGen for markets outside Asia [3] - The acquisition is expected to consolidate global rights under NKGen, enhancing its ability to commercialize troculeucel for Alzheimer's and other neurodegenerative diseases in Japan and South Korea [3][4] - NKGen aims to begin commercialization in countries where autologous non-genetically modified cell therapy is legal, including Japan, Thailand, Malaysia, and Mexico [4] Group 3: Company Background - NKGen Biotech is a clinical-stage biotechnology company focused on developing innovative autologous and allogeneic natural killer cell therapeutics [8] - NKMax, founded in 2002, is also a clinical-stage biotechnology company specializing in immune cell therapies and has a GMP-certified manufacturing facility [6]
NKGen Biotech Selected as Stalking Horse Bidder for NKMax