TIUMBIO CEO Hun-Taek Kim Purchases 300 Million Won Worth of Shares on the Open Market

TIUMBIO announced that CEO Hun-Taek Kim has purchased company shares on the open market.

According to TIUMBIO on June 24, this open market purchase totaled 70,214 shares and took place over three trading days from June 18 to June 22. TIUMBIO is currently focusing on the development and global commercialization of its core clinical pipeline, centered around Meligolix (TU2670) and Torsposetip (TU2218). Meligolix is an oral gonadotropin-releasing hormone (GnRH) antagonist being developed as a treatment for endometriosis and uterine fibroids. Torsposetip is a dual inhibitor targeting both transforming growth factor-beta (TGF-β) and vascular endothelial growth factor receptor 2 (VEGFR2), being developed primarily for immuno-oncology combination therapies.

By leveraging the best-in-class positioning of Meligolix and the first-in-class competitiveness of Torsposetip, the company has been presenting compelling clinical data in each therapeutic area, thereby demonstrating their development potential as therapeutics. The company further explained that, as discussions with global pharmaceutical and biotech companies regarding collaboration on its key pipeline—including technology transfer and joint development—are becoming more concrete, its current corporate value does not fully reflect the potential of its pipeline.

A TIUMBIO official stated, "The CEO's share purchase is a tangible expression of commitment to enhancing shareholder value," adding, "It is also an expression of a firm belief in increasing corporate value and succeeding in new drug development through clinical and global commercialization achievements."

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