SCM LIFESCIENCE Co., Ltd. announced that it has entered into a share subscription agreement with new investor CCM Duopharma Biotech Berhad (KLSE:CCMDBIO) for private placement of 164,016 common shares and 109,344 redeemable convertible preference shares for aggregate gross proceeds of KRW 5,500,003,200 on October 25, 2018. Post the closing, the investor will acquire 5.8% stake in the company. The transaction is subject to approval from the shareholder of the company and is not subject to the approval of the shareholders of the investor.

The transaction is expected to be close by December 31, 2018. The company will receive KRW 44,100,000,000 in funding till date at the close of the transaction.