by Tristan Manalac for BioSpace

“Korean food and healthcare firm Pan Orion Corp on Monday dropped approximately $415.6 million to buy a 25% stake in Korean biotech LegoChem Biosciences, according to local news outlet The Chosun Daily.

The transaction, which LegoChem disclosed to investors through Monday’s regulatory filing, makes Orion the largest shareholder of the antibody-drug conjugate (ADC) developer. According to Chosun Daily, Orion carried the purchase out through a Hong Kong-based subsidiary and the companies expect to close the deal on March 29.

Once finalized, LegoChem will become part of Orion’s corporate family but will retain its current frameworks and management…”

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