ENCell Extends Joint Exercise of Voting Rights with Samsung Life Public Welfare Foundation and One&Partners for One Year

ENCell, a company specializing in CDMO (Contract Development and Manufacturing Organization) for cell and gene therapies (CGT) and new drug development, has extended its agreement for joint exercise of voting rights between its largest and major shareholders by one year, thereby maintaining a stable governance structure.

ENCell announced on August 24 that CEO Jang Jongwook, the largest shareholder, as well as key shareholders Samsung Life Public Welfare Foundation (a social welfare foundation), and One&Partners, have renewed their joint purpose holding agreement for the joint exercise of voting rights.

This agreement renewal was necessitated by the expiration of the original pact signed at the time of the company’s KOSDAQ listing in August 2024. The new agreement period runs for one year, from August 23 this year through August 22 next year.

The shares subject to joint exercise are a total of 547,080 common shares, comprising 397,080 shares held by the Samsung Life Public Welfare Foundation and 150,000 shares held by One&Partners. This represents approximately 5% of ENCell’s total outstanding shares.

As a result of this renewal, CEO Jang Jongwook, Samsung Life Public Welfare Foundation, and One&Partners, as the largest and key shareholders, will jointly exercise the voting rights for these shares over the next year. The company stated that the extension of the joint holding agreement even two years after the company's listing demonstrates stakeholder trust in ENCell’s medium- to long-term growth strategy.

In particular, the Samsung Life Public Welfare Foundation operates Samsung Medical Center and has maintained a collaborative relationship with ENCell since the company’s founding. ENCell explained that by renewing this agreement, it will continue to cooperate closely with key shareholders while maintaining a stable, largest-shareholder-centered governance structure.

ENCell plans to further scale up both its new drug development and CDMO businesses based on a solid management foundation. The company's main engines of growth include phase 2a clinical trials of its next-generation stem cell therapy 'EN001,' regenerative medicine business in Japan, and the expansion of CDMO orders for cell and gene therapies.

EN001 is an investigational stem cell therapy under development by ENCell, and the company aims to enhance the commercial viability of its drug pipeline through clinical development. At the same time, ENCell plans to expand its CDMO business targeting the global CGT market to further strengthen the synergy between new drug development and manufacturing operations.

An ENCell official stated, “With the continuation of the joint holding relationship between the largest and key shareholders, we have maintained a foundation for stable, long-term business operations. We will steadily push forward with key projects, including the EN001 phase 2a clinical trial, regenerative medicine initiatives in Japan, and the expansion of CDMO contracts, to enhance corporate value.”

Meanwhile, the details of this renewed joint exercise of voting rights agreement were reflected in the "Report on Mass Holdings of Stocks, Etc." submitted to the Financial Supervisory Service's electronic disclosure system on the same day.

This content was produced with the assistance of AI translation services.