Amicogen Inc enters into agreement to divest its ownership in Bio-Works

Amicogen Inc. has entered into an agreement to divest its ownership in Bio-Works Technologies AB (BIOWKS.ST). Amicogen's entire holding of 3,007,896 shares was sold today at 12:03:42 CET in a transaction brokered by Erik Penser Bank for a price of 15.75 SEK. As of June 30, 2021, Amicogen Inc. was Bio-Works' second largest shareholder. The block was primarily sold to Nortal Investments AB and Calyptra AB. As of June 30, 2021, Nortal Investments AB was Bio-Works largest shareholder, owning 4,119,885 shares, or 13.6% of the company. 

Dr. Shin, CEO of Amicogen Inc., stated “Amicogen was an early investor in Bio-Works, and over time the relationship between the two companies has grown. Amicogen is currently Bio-Works’ exclusive distributor in the Korean market, its supplier of the alkali-stable protein A ligand used in WorkBeads affimAb, and the recipient of a technology transfer project to establish domestic production of agarose resins in Korea. Now, the time was right for Amicogen to divest its ownership in Bio-Works, but the two companies will continue to work together on many fronts. Amicogen will build a chromatography resin factory in Korea with the proceeds of this transaction to meet the increasing demand for resins from customers together Bio-Works.”