NKGen Biotech, Inc. Announces Completion of NKMax Co., Ltd. Acquisition; Gains Full Control of Global Manufacturing and Intellectual Property Assets

Core Insights - NKGen Biotech has successfully acquired a majority equity stake in NKMax Co., Ltd., marking a significant transformation for the company into a vertically integrated leader in NK cell therapeutics [1][5] - The acquisition allows NKGen to gain full control over global manufacturing infrastructure, intellectual property, and exclusive commercialization rights, enhancing its operational capabilities [1][4] Company Overview - NKGen Biotech is a clinical-stage biotechnology company focused on developing and commercializing innovative autologous and allogeneic NK cell therapeutics [8] - The company was originally founded as a subsidiary of NKMax in 2017 and has faced financial challenges, particularly after NKMax's bankruptcy in 2024 [2][3] Financial Aspects - The acquisition involved approximately $16.9 million for a 65% equity stake in NKMax, which is now recapitalized and debt-free [5] - Funding for the acquisition was primarily provided by AlpineBrook Capital GP 1 Limited and NKGen's CEO, Dr. Paul Y. Song [3][5] Strategic Implications - The acquisition is seen as a turning point for NKGen, allowing it to integrate NKMax's capabilities and expertise while eliminating uncertainties related to its parent company [4][6] - NKGen aims to leverage its newly acquired assets to accelerate the clinical development of its lead Alzheimer's therapy, troculeucel, which has shown promising results in clinical trials [4][7] Future Outlook - NKGen is optimistic about expanding its pipeline of NK cell therapies and anticipates significant investor interest as it enters a new chapter focused on long-term value creation [6][4] - The company is positioned to forge partnerships throughout Asia and the Middle East, enhancing its global reach and commercialization potential [4][6]