InnoTherapy, Inc. announces private placement of 874,635 shares of common stock at an issue price of KRW 6,860 per share for gross proceeds of KRW 5,999,996,100 on October 25, 2023. The transaction will include participation from SCL Holdings Co. , Ltd. for 291,545 shares and Seoul Medical Science Research Institute Foundation for 583,090 shares.

The transaction is expected to close on November 17, 2023.