NKGen Biotech, Inc. Announces Completion of NKMax Co., Ltd. Acquisition; Gains Full Control of Global Manufacturing and Intellectual Property Assets
NKGen Biotech (OTC: NKGN) has successfully completed the acquisition of a 65% controlling stake in NKMax Co., Ltd. for $16.9 million. The strategic transaction, funded by AlpineBrook Capital GP 1 Limited and CEO Dr. Paul Y. Song, transforms NKGen into a fully integrated cell therapy company with complete control over global manufacturing infrastructure and intellectual property assets.
The acquisition marks a significant turnaround for NKGen, which faced challenges after NKMax's bankruptcy in 2024 and its own delisting from Nasdaq. The deal secures NKMax's operations through 2026 and positions NKGen to advance its lead therapeutic candidate, troculeucel, which has received FDA fast track designation and shown promising results in over 90% of Alzheimer's patients treated to date.
NKGen Biotech (OTC: NKGN) ha completato con successo l’acquisizione di una quota di controllo del 65% in NKMax Co., Ltd. per 16,9 milioni di dollari. L’operazione strategica, finanziata da AlpineBrook Capital GP 1 Limited e dal CEO Dr. Paul Y. Song, trasforma NKGen in una società di terapia cellulare completamente integrata con il controllo totale delle infrastrutture produttive globali e degli asset di proprietà intellettuale.
L’acquisizione rappresenta una svolta importante per NKGen, che aveva affrontato difficoltà dopo il fallimento di NKMax nel 2024 e la propria cancellazione dal Nasdaq. L’accordo garantisce le attività di NKMax fino al 2026 e pone NKGen in posizione favorevole per sviluppare il suo principale candidato terapeutico, il troculeucel, che ha ricevuto la designazione FDA di fast track e ha mostrato risultati promettenti in oltre il 90% dei pazienti con Alzheimer trattati finora.
NKGen Biotech (OTC: NKGN) ha completado con éxito la adquisición de una participación de control del 65% en NKMax Co., Ltd. por 16,9 millones de dólares. La operación estratégica, financiada por AlpineBrook Capital GP 1 Limited y el CEO Dr. Paul Y. Song, convierte a NKGen en una compañía de terapia celular totalmente integrada, con control completo sobre la infraestructura de fabricación global y los activos de propiedad intelectual.
La adquisición supone un giro significativo para NKGen, que afrontó dificultades tras la bancarrota de NKMax en 2024 y su propia exclusión del Nasdaq. El acuerdo asegura las operaciones de NKMax hasta 2026 y sitúa a NKGen en posición de impulsar su candidato terapéutico principal, el troculeucel, que ha recibido la designación de vía rápida (fast track) por la FDA y ha mostrado resultados prometedores en más del 90% de los pacientes con Alzheimer tratados hasta la fecha.
NKGen Biotech (OTC: NKGN)는 NKMax Co., Ltd.의 지배 지분 65%를 1,690만 달러에 성공적으로 인수했습니다. AlpineBrook Capital GP 1 Limited와 CEO Dr. Paul Y. Song이 자금을 지원한 이번 전략적 거래로 NKGen은 전 세계 제조 인프라와 지식재산권을 완전하게 통제하는 완전 통합 세포치료 기업으로 거듭났습니다.
이번 인수는 2024년 NKMax의 파산과 NKGen의 나스닥 상장폐지 이후 겪었던 어려움에서의 중요한 전환점입니다. 이 거래는 NKMax의 사업을 2026년까지 안정시키고, FDA 패스트트랙 지정을 받은 주력 치료 후보물질 troculeucel의 개발을 추진할 수 있는 기반을 NKGen에 제공합니다. 해당 치료는 지금까지 치료받은 알츠하이머 환자의 90% 이상에서 유망한 결과를 보였습니다.
NKGen Biotech (OTC: NKGN) a finalisé avec succès l’acquisition d’une participation majoritaire de 65% dans NKMax Co., Ltd. pour 16,9 millions de dollars. La transaction stratégique, financée par AlpineBrook Capital GP 1 Limited et le PDG Dr Paul Y. Song, transforme NKGen en une société de thérapie cellulaire entièrement intégrée, bénéficiant d’un contrôle total sur l’infrastructure de fabrication mondiale et les actifs de propriété intellectuelle.
Cette acquisition marque un tournant important pour NKGen, confrontée à des difficultés après la faillite de NKMax en 2024 et sa propre radiation du Nasdaq. L’accord garantit les opérations de NKMax jusqu’en 2026 et place NKGen en position d’avancer son principal candidat thérapeutique, le troculeucel, qui a reçu la désignation accélérée (fast track) de la FDA et a montré des résultats prometteurs chez plus de 90% des patients atteints d’Alzheimer traités à ce jour.
NKGen Biotech (OTC: NKGN) hat erfolgreich den Erwerb einer mehrheitlichen Beteiligung von 65% an NKMax Co., Ltd. für 16,9 Millionen US-Dollar abgeschlossen. Die strategische Transaktion, finanziert von AlpineBrook Capital GP 1 Limited und CEO Dr. Paul Y. Song, verwandelt NKGen in ein vollständig integriertes Zelltherapieunternehmen mit kompletter Kontrolle über die globale Produktionsinfrastruktur und geistiges Eigentum.
Die Übernahme stellt eine bedeutende Wende für NKGen dar, das nach der Insolvenz von NKMax im Jahr 2024 und der eigenen Delistung vom Nasdaq vor Herausforderungen stand. Der Deal sichert den Betrieb von NKMax bis 2026 und versetzt NKGen in die Lage, seinen führenden Therapiekandidaten, troculeucel, weiter voranzubringen, der von der FDA den Fast-Track-Status erhalten hat und bei über 90% der bisher behandelten Alzheimer-Patienten vielversprechende Ergebnisse gezeigt hat.
- Acquisition provides full control over global manufacturing infrastructure and IP assets
- NKMax operations secured through 2026 with $16.9M investment
- Lead drug troculeucel shows 90%+ efficacy in Alzheimer's patients
- FDA fast track designation received for troculeucel
- Strategic funding secured from AlpineBrook Capital
- Opportunity for rapid expansion and partnerships in Asia and Middle East
- Company previously delisted from Nasdaq
- Previous financial challenges and uncertainty due to parent company NKMax's bankruptcy
- Only received $10M of promised $25M backstop commitment from previous parent company
Insights
NKGen's acquisition of NKMax secures critical manufacturing, IP, and commercialization assets after parent company bankruptcy, potentially strengthening its Alzheimer's therapy development.
This acquisition represents a strategic pivot point for NKGen Biotech. After facing significant challenges from its parent company's bankruptcy, NKGen has secured a 65% controlling stake in NKMax for
The acquisition resolves several critical business vulnerabilities. Previously, NKGen was caught in a precarious position when NKMax failed to fulfill a
From a financial perspective, the deal appears structured to provide operational runway, with NKMax operations now expected to be funded through 2026. This provides crucial stability for advancing their clinical programs, particularly troculeucel, their lead NK cell therapy for Alzheimer's disease which has received FDA Fast Track designation.
The preliminary clinical data mentioned in the release warrants attention - they claim
This acquisition centralizes control of vital IP and manufacturing capabilities that will be essential if their therapies advance toward commercialization. For a cell therapy company, manufacturing is often one of the most challenging aspects of scaling up, so securing this infrastructure could provide significant competitive advantages and cost efficiencies.
- NKGen acquires controlling stake in NKMax, marking a pivotal moment in its transformation into a fully integrated, self-sustaining, cell therapy company with global manufacturing and IP control.
- Approximately
$16.9 million paid to acquire65% equity stake in recapitalized debt-free NKMax, with NKMax operations now expected to be funded through 2026. - Funding provided by AlpineBrook Capital GP 1 Limited and NKGen CEO Dr. Paul Y. Song.
SANTA ANA, Calif., Sept. 09, 2025 (GLOBE NEWSWIRE) -- NKGen Biotech, Inc. (OTC: NKGN) (“NKGen” or the “Company”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic natural killer (“NK”) cell therapeutics, today announced the successful completion of its acquisition of a majority equity stake in NKMax Co., Ltd. (“NKMax”), a Korean biotechnology company, out of bankruptcy. This acquisition marks a transformative step for NKGen, granting full control over key global manufacturing infrastructure, intellectual property (“IP”), and exclusive commercialization rights, while solidifying the Company’s position as an independent and vertically integrated leader in NK cell therapeutics.
This transaction is a culmination of a multi-year journey that has seen NKGen overcome significant challenges, emerge stronger, and continue its unwavering commitment to advancing groundbreaking cell therapies. Originally founded as a subsidiary of NKMax in 2017, NKGen has long benefited from its parent’s financial backing to drive the development of its innovative NK cell therapy platform. In October 2023, NKGen made the pivotal decision to go public in the U.S., securing a
There were several unforeseen and unfortunate circumstances which led to the suspension of trading of NKMax shares on the KOSDAQ Korean Stock Exchange, and NKMax’s subsequent collapse into bankruptcy in 2024. This created significant financial challenges and uncertainty for NKGen which negatively impacted its own stock, ability to raise funds and eventual delisting from Nasdaq. In response to these challenges, NKGen’s leadership acted swiftly, with the support of AlpineBrook Capital GP 1 Limited (“AlpineBrook”), which recognized the potential of the combined companies. AlpineBrook provided the majority of the
“This is more than an acquisition, it’s a turning point in our company’s history,” said Paul Y. Song, M.D., Chairman and CEO of NKGen. “The past couple of years have been incredibly challenging, but we had an unwavering belief in the science behind our therapy and its true potential to change lives. This belief drove each of us, at every level of the company, to make sacrifices, stay committed, and keep building even though our future was very uncertain. With the support of AlpineBrook, who recognized our dedication and scientific promise, we have been blessed with the chance to now fully integrate NKMax’s capabilities and expertise into NKGen while taking full control of all IP and global distribution rights. We believe removing the uncertainty of the parent company overhang has also begun to generate renewed interest from U.S. and international investors alike and will allow us to enter a new era of opportunity and long-term growth. We believe the acquisition of NKMax will also allow us to rapidly expand and forge partnerships throughout Asia and the Middle East.”
Dr. Song continued, “I am incredibly optimistic about the future of our lead therapeutic candidate, troculeucel, which has already been granted fast track designation by the U.S. Federal Drug Administration. We are consistently demonstrating cessation of disease progression and/or demonstrable cognitive improvements in over
Looking ahead, we believe NKGen is well-positioned to accelerate the clinical development of its lead Alzheimer’s therapy, troculeucel, and expand its pipeline of NK cell therapies. With full ownership of NKMax’s manufacturing infrastructure and IP, the company expects to be primed for global commercial success and further strategic partnerships. The Company anticipates significant investor interest, as it enters a new chapter focused on long-term value creation for shareholders and patients worldwide.
About Troculeucel
Troculeucel is a novel cell-based, patient specific, ex vivo expanded autologous NK cell immunotherapeutic drug candidate. NKGen is developing troculeucel for the treatment of neurodegenerative disorders and a broad range of cancers. Troculeucel is the International Nonproprietary Name (“INN”) for SNK01 assigned by the World Health Organization (“WHO”). The WHO INN approval of troculeucel establishes a universally recognized nonproprietary drug name for SNK01 and marks a significant step on NKGen’s journey toward bringing this therapy to market.
About NKGen Biotech
NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic NK cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit https://nkgenbiotech.com/.
Forward-Looking Statements
Statements contained in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Because such statements are patient to risks and uncertainties, many of which are outside of the Company’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the Company’s plans and expected timing for developing troculeucel and SNK02, including the expected timing of completing and announcing further results from its ongoing clinical studies; and the Company’s expected timing for developing its product candidates and potential benefits of its product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: the Company’s ability to execute its plans and strategies; risks related to performing clinical studies; the risk that initial and interim results of a clinical study do not necessarily predict final results and that one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data, and as more patient data become available; potential delays in the commencement, enrollment and completion of clinical studies and the reporting of data therefrom; the risk that studies will not be completed as planned; the risk that the abstract will not be published as planned including delays in timing, format, or accessibility; and NKGen’s ability to raise additional funding to complete the development of its product candidates. Additional risks include uncertainties related to the Company’s acquisition of a majority interest in NKMax, including risks regarding the future performance of NKMax’s business, the Company’s ability to successfully integrate NKMax’s operations, personnel, and technologies, potential challenges in realizing expected synergies and cost savings, and risks that the Company may not achieve the anticipated strategic, financial, or operational benefits of the acquisition on the expected timeline or at all. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in the Company’s filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on the Company’s website under the subheading “Investors—Financial and Filings”. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Internal Contact:
Denise Chua, MBA, CLS, MLS(ASCP)
SVP, Corporate Affairs
949-396-6830
dchua@nkgenbiotech.com
External Contact:
Kevin Gardner
Managing Director
LifeSci Advisors, LLC
kgardner@lifesciadvisors.com
FAQ
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