Pharmicell Co., Ltd. acquired ID Biochem, Inc from Isu Chemical Co. Ltd., Woo-Baek Choi and other shareholders for KRW 21 billion.
November 09, 2012 at 09:30 am IST
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Pharmicell Co., Ltd. (KOSE:A005690) acquired ID Biochem, Inc from Isu Chemical Co. Ltd. (KOSE:A005950), Woo-Baek Choi and other shareholders for KRW 21 billion on November 9, 2012. On November 9, 2012, which is the contract signing date, KRW 2.35 billion which is 11.19% out of acquisition amount is paid in cash and the rest amount of KRW 18.65 billion for 88.81% of acquisition amount is paid in issued bond with warrant. The transaction has been resolved by Board of Directors of Pharmicell Co., Ltd on November 9, 2012. Wan-Min Shin of Shinseung Accounting Corporation acted as external valuation authority to the transaction.
Pharmicell Co., Ltd. (KOSE:A005690) completed the acquisition of ID Biochem, Inc from Isu Chemical Co. Ltd. (KOSE:A005950), Woo-Baek Choi and other shareholders on November 9, 2012.
Pharmicell Co., Ltd. is a Korea-based company principally engaged in the biopharmaceutical business. Its biopharmaceutical business engages in the development and manufacture of stem cell therapeutic drugs and stem cell-based cosmetics and others. It also provides steam cell storage services, and mesenchymal stem cells (MSCs) used for research areas and others. In addition, the Company engages in the fashion business, which provides womenâs and menâs apparels under the brand names of Religion and Day. On March 31, 2013, the Company merged with its wholly owned subsidiary, mainly engaged in the manufacture and sale of medicines.
PHARMICELL CO., LTD. 
