GemVax & Kael Co.,Ltd. (KOSDAQ:A082270) agreed to acquire the remaining 9.77% stake in KAEL-GemVax Co., Ltd. for KRW 10.6 billion in cash on January 20, 2014. GemVax & Kael will acquire remaining 0.66 million shares of KAEL-GemVax. Under the trems the partial payment will be received through issuance of KAEL-GemVax Co., Ltd.'s 5th unregistered unguaranteed convertible bonds for 4,177 million won on January 22, 2014, and the rest of the payment will be received in cash.

In an amendment GemVax & Kael Co., Ltd. will acquire 3.86% stake and 0.26 million shares. The transaction is expected to close by January 22, 2014.