SD Biosensor, Inc announced a private placement of 19,849,810 shares for gross proceeds of KRW 226,089,335,900 on July 27, 2023. The transaction will include participation from new investor, BioNote, Inc. for 14.1% stake post completion of the transaction. The transaction is expected to close on July 28, 2023.

The transaction has been approved by the board of directors of the company.