DND Pharmatech Completes KRW 226.5 Billion Convertible Bond Payment, Reflecting Expectations for DD01

Zero-Interest, One-Year Lock-Up Conditions
Accelerating Development of Follow-Up Pipelines

DND Pharmatech has successfully completed the payment for its KRW 226.5 billion convertible bonds (CB), marking a large-scale fundraising achievement.

D&D Pharmatech company logo image. D&D Pharmatech

DND Pharmatech announced on the 4th that the full payment for the CBs issued via a third-party allotment on April 30 had been completed. The funds raised exceeded the initial plan, with participation from both domestic asset management firms—including DS Investment Partners—and overseas investors such as Wise Asset Management and Tybourne Capital Management.

The issued CBs have a 0% coupon and zero maturity interest, and the investors' holdings are subject to a one-year lock-up period during which resale and conversion to shares are restricted.

The market views this fundraising as reflecting expectations for the results of the Phase 2 clinical trial of DD01, the company’s lead pipeline for MASH (Metabolic Dysfunction-Associated Steatohepatitis) treatment, as well as the potential for future technology transfer. The 48-week biopsy results for DD01 are scheduled to be released at the end of this month at the European Association for the Study of the Liver (EASL).

The company plans to use the secured funds to expand clinical trials and R&D for its follow-up pipeline, including the fibrosis treatment candidate TLY012. TLY012 aims to enter clinical trials as early as the beginning of next year.

Additionally, DND Pharmatech will pursue the discovery of new pipelines based on its OralLink platform and the development of next-generation obesity treatments in parallel.

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