Kolon Pharmaceuticals, Inc. announced that it will issue 48,483 common shares at an issue KRW 37,581 per share for gross proceeds of KRW 1,822,039,623 on May 15, 2024. The transaction will include participation from new investor, Kolon Corporation. The transaction has been approved by the board of director.

The company is expected to close the transaction on May 15, 2024.