Jeonjinbio Co., Ltd. announced a private placement of 171,800 common shares at a price of KRW 10,000 per share for gross proceeds of KRW 1,718,000,000 on February 14, 2018. The company will receive the funding through third party allotment. The securities being issued are subject to a lock in period of 1 year. The transaction was approved by the board of directors of the company. The transaction will include participation from new investors Jongtae Choi for 10,000 shares, Geunbae Kim for 10,000 shares, Jongdoo Choi for 5,000 shares, Sunghyun Lee for 5,000 shares, Myungjin Lee for 5,000 shares, and existing investors Byungse Lee for 25000 shares, Seojin Kim for 25000 shares, Sinki Kang for 20000 shares, Hyungseok Lee for 15000 shares, Hwayoung Jung for 10000 shares, Yeonhee Choi for 10000 shares, Jumnam Shin for 10000 shares, Bongsung Um for10000 shares, Sunggil Kang for 10000 shares, Aeju Lee for 5000 shares, and Myungok Kim for 1800 shares. The transaction is expected to close on March 2, 2018.