GenoFocus, Inc. acquired 65.35% stake in Sungwun Bio Co., Ltd. from Sungwun Pharmacopia Co. Ltd. for KRW 5 billion.
March 10, 2017
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GenoFocus, Inc. (KOSDAQ:A187420) acquired 65.35% stake in Sungwun Bio Co., Ltd. from Sungwun Pharmacopia Co. Ltd. for KRW 5 billion on March 10, 2017. As reported, GenoFocus acquired 0.35 million Sungwun Bio shares. As on December 31, 2016, Sungwun Bio Co., Ltd. reported revenues of KRW 7 billion, total assets of KRW 13.9 billion, net income of KRW 109 million and common equity of KRW 7 billion. The consideration is expected to be paid and the transaction is expected to be closed on March 10, 2017. E-Jung Accounting Corporation acted as external rating institution in the deal.
GenoFocus, Inc. (KOSDAQ:A187420) completed the acquisition of 65.35% stake in Sungwun Bio Co., Ltd. from Sungwun Pharmacopia Co. Ltd. on March 10, 2017.
GenoFocus, Inc. is a Korea-based company principally engaged in the development, manufacture and distribution of enzymes. The Company mainly manufactures catalases, lactase, phytases and other enzymes. The catalases are mainly used for industry, including processing of semiconductors, petroleum and propylene oxide, medical therapeutics, food processing, contact-lens and other industries. The lactases are mainly used for food processing including processing of milk, yogurt and milk serum. The phytases are mainly used for processing of animal feed. And the Company is exploring new businesses, engaged in development of other enzymes including therapeutic enzymes, chemical agents and others.
GENOFOCUS, INC. 
