PanGen Biotech Inc. has withdrawn its IPO in the amount of KRW 35.40 billion.

Pangen Biotech Inc. is a Korea-based company primarily engaged in the bio pharmaceuticals development technology transfer services. The Company mainly provides contract services for the manufacture of bio pharmaceuticals, bio pharmaceuticals development technology transfer services for the manufacture of Chinese hamster ovary (CHO) cell lines and the process of products and gains royalty from the services. The Company also provides reagents which are used for the development of bio pharmaceuticals. In addition the Company is also engaged in the development of bio pharmaceuticals such as Biosimilar EPO, Recombinant Factor VIII and Biosimilar G-CSF. The Company provides its services within domestic market and to overseas markets such as China, India, Mexico, America and Europe.