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Implementation of an Industry-Academia Collaborative Project for the Development of Alternative Antibiotics
2009.10.23
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On August 20, Daehan New Pharm Co., Ltd. announced that its project for the development of alternative antibiotics had beened as part of the Technology Innovation Development Program organized by the Small and Medium Business Administration. The company has secured government funding of 560 million won over two years and plans to jointly develop alternative antibiotics with Sungkyunkwan University by 2011.
As a condition for participation in the project, the company was required to attract matching investment from a third-party institution. Accordingly, Daehan New Pharm decided to issue convertible bonds without security totaling 560 million won, with Woori Bank designated as the underwriting institution.
The company emphasized that this financing decision is unrelated to its current financial condition, and that there are no issues affecting its liquidity or financial stability. |


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