Pharmswell Medical Co., Ltd. announced that it has issued 1,000,001 shares at KRW 1,000 per share for gross proceeds of KRW 1,000,001,000 on January 29, 2019. The transaction included participation from new investor PharmswellBio Co., Ltd. (KOSDAQ:A043090). Post the closing, the investor acquired 50% stake in the company. The company issued shares through a third party allotment method. The transaction has been approved by the board of directors of the investor.