CrystalGenomics, Inc. (KOSDAQ:A083790) and Hwail Pharmaceutical Co.,Ltd. (KOSDAQ:A061250) agreed to acquire 20.43% stake in PanGen Biotech Inc. (KOSDAQ:A222110) from the group of shareholders for approximately KRW 24 billion on November 22, 2022. As per the terms, Hwail Pharmaceutical Co.,Ltd will acquire 646,940 shares for approximately KRW 7.1 billion. The balance will be acquired by CrystalGenomics, Inc. (KOSDAQ:A083790).

Transaction is expected to close on January 12, 2023.