This article was released as Pharm Edaily Premium Content on September 23, 2026, at 8:35 AM.
[Kim Jin Soo, Edaily Repoeter] On Sept. 22, change-of-control developments at biotech companies drew significant attention across South Korea’s pharmaceutical and biotech sector. Vaccine developer Cellid surged after announcing a deal with Huniverse Global, while pharmaceutical distribution and platform company BlueMtec climbed amid reports linking it to Kolmar Group.
Inventera also attracted investor interest after reporting significant results from a Phase 3 clinical trial of its investigational magnetic resonance imaging(MRI) contrast agent.
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Cellid Transfers Control, CEO Kang to Remain Involved
Cellid shares hit the daily upper limit in early trading before closing at KRW 2,885, up KRW 665 from the previous session. The rally was attributed to the company’s announcement of a KRW 10 billion third-party allotment capital increase and a planned change in management control.
Cellid disclosed on Sept. 21 that it had signed an agreement with Huniverse Global concerning a change in management control through the issuance of new shares.
Under the agreement, Cellid will issue 4,796,163 common shares to Huniverse Global through a third-party allotment. The issue price is KRW 2,086 per share, bringing the total subscription amount to KRW 9,999,999,855. Payment is scheduled for Nov. 9.
The approximately KRW 10 billion in proceeds is expected to be used for existing research and development activities and clinical trials, as well as new businesses and the establishment of joint platforms with Huniverse Global.
If the payment is completed as scheduled, Huniverse Global will become Cellid’s largest shareholder. Kang Chang-yul, Cellid’s current largest shareholder and CEO, will become the company’s second-largest shareholder.
Changes are also planned for the company’s management structure. Subject to payment for the new shares by Huniverse Global and additional investment through convertible bonds from new investors, four directors and one auditor designated by Huniverse Global will be appointed.
The new board will consist of four directors designated by Huniverse Global and two directors designated by the existing Cellid management. The company’s representative director will also be selected from candidates designated by Huniverse Global.
Kang is expected to remain involved in Cellid’s business even after the change in the largest shareholder. According to Cellid, as the second-largest shareholder, Kang will continue working toward commercialization of the company’s cancer therapeutic vaccine and COVID-19 vaccine programs while also helping develop new businesses with Huniverse Global.
Cellid views the capital increase not merely as a financial investment but as the foundation for a strategic partnership between the two companies.
Huniverse Global’s main businesses include software development and supply, as well as the exchange and operation of medical data. The company developed a Precision Hospital Information System, or PHIS, and has deployed related systems at hospitals in South Korea.
Cellid plans to integrate medical data and precision medicine infrastructure available through Huniverse Global into the development of its cancer immunotherapeutic vaccines.
In particular, the companies plan to combine Cellid’s BVAC cancer immunotherapy vaccine pipeline with medical data to collaborate on personalized cancer vaccines tailored to individual patient characteristics.
Cellid is also pursuing additional fundraising. Following the capital increase, the company and Huniverse Global have agreed to seek further financing required for Cellid’s existing and new businesses.
“This strategic investment and collaboration with Huniverse Global will mark an important turning point in further strengthening the competitiveness of our BVAC cancer immunotherapy vaccine pipeline,” Kang said. “We will pursue the development of personalized cancer vaccines using medical big data.”
BlueMtec Surges on Reports of Sale to Kolmar Group
BlueMtec shares climbed sharply in afternoon trading, rising as much as 26% to KRW 3,485 before giving back some of the gains to close at KRW 3,120, up approximately 13.87% from the previous session.
Investor interest was driven by reports that the company is pursuing a sale of management control.
According to investment banking industry sources, BlueMtec is seeking to sell a controlling stake. KDB Investment is reportedly expected to serve as the general partner of a fund, with Kolmar Group participating as a strategic investor.
A letter of commitment, or LOC, for investment in the fund is expected to be signed in early October.
If the transaction proceeds as planned, Kolmar Group is reportedly expected to secure approximately a 40% stake in BlueMtec.
The transaction is being discussed as a combination of purchases of existing shares from major shareholders and the acquisition of newly issued shares through a third-party allotment capital increase.
The deal is estimated to be worth around KRW 70 billion. Compared with BlueMtec’s current market capitalization, the transaction value appears to include a premium for management control.
Kolmar Group is expected to seek to expand its pharmaceutical distribution capabilities and sales channels through the acquisition.
BlueMtec’s key asset is its digital distribution network connecting clinics and hospitals nationwide. The company has grown around BluePharm Korea, its business-to-business e-commerce platform for prescription pharmaceuticals.
As of the first quarter of this year, the platform had approximately 36,200 members, representing a network equivalent to 68.4% of clinic-level medical institutions nationwide.
In addition to BluePharm Korea, BlueMtec operates Bluefeed, a non-face-to-face pharmaceutical sales support solution; Bluedoc, a recruitment platform for healthcare professionals; MDsquare, a telemedicine platform; and Medistaff, a communication platform for medical students and residents. Through these businesses, the company has continued to expand its presence across the healthcare and pharmaceutical sectors.
Given BlueMtec’s network of more than 36,000 clinics and hospitals, HK inno.N could emerge as the Kolmar Group affiliate with the most direct potential synergies from an acquisition.
Kolmar Group currently has capabilities spanning pharmaceutical development, manufacturing and marketing, but it does not have its own online distribution platform directly connecting it with clinics and hospitals nationwide.
An acquisition of BlueMtec could therefore allow Kolmar Group to establish an integrated structure extending from pharmaceutical manufacturing to sales, distribution and logistics.
A BlueMtec official said, “There is nothing we can comment on.”
Inventera Rises After Successful Phase 3 Trial of MRI Contrast Agent
Inventera shares closed at KRW 13,800, up 18.86% from the previous session.
The increase appeared to follow the company’s announcement around the previous day’s market close that its investigational MRI contrast agent, INV-002, had produced successful clinical trial results.
Inventera announced on Sept. 21 that INV-002, also known as NEMO-103 Injection, an iron-based nanoparticle MRI contrast agent under development, had met all primary endpoints in a South Korean Phase 3 clinical trial.
Based on the final Clinical Study Report, or CSR, Inventera plans to submit an application for regulatory approval to South Korea’s Ministry of Food and Drug Safety in the fourth quarter of this year.
The trial enrolled 85 patients with confirmed or suspected shoulder joint disorders who required magnetic resonance arthrography, or MR arthrography, at eight tertiary hospitals in South Korea.
Comparisons of non-contrast MRI images and MR arthrography images obtained using INV-002 in the same patients showed statistically significant improvements across all primary endpoints, including joint distension, contrast and image sharpness, with a p-value of less than 0.0001.
Significant results were also obtained for secondary endpoints, including contrast-to-noise ratio, or CNR, and lesion-to-background ratio, or LBR.
INV-002 is a T1-weighted nanoparticle MRI contrast agent that uses iron instead of gadolinium and has been developed for direct intra-articular administration without requiring separate dilution or preparation.
Currently, there is no contrast agent specifically approved for MR arthrography, and gadolinium-based intravenous contrast agents are often diluted before use in such procedures.
Inventera expects that, if approved, INV-002 could reduce the burden on medical professionals associated with dilution and preparation while differentiating itself as a contrast agent specifically designed for MR arthrography.
“Based on the differentiation provided by its iron-based formulation and its dosage form optimized for joint imaging, we intend to establish an early position in the MR arthrography contrast agent market,” an Inventera official said.
