NKGen Biotech, Inc. Issues Statement on Recent Board Appointments at Majority-Owned Korean Affiliate NKGen Korea Co., Ltd.

Rhea-AI Summary

NKGen Biotech (OTC: NKGN) announced board changes at its majority-owned Korean affiliate NKGen Korea following a shareholder-approved name change on November 21, 2025. NKGen Korea disclosed KOSDAQ appointments of Hanhan Xu, Xuan Zhang, and Dr. June H. Lee to three-year terms, and earlier appointed Dr. Angie You on August 14, 2025 to a one-year term. Leadership backgrounds span scientific development, operations, finance, and venture roles across Asia and the U.S.

The company said it supports the appointments as majority shareholder and expects the new directors to aid NKGen Korea as it emerges from rehabilitation and advances NK cell therapeutic development and commercialization in the Asia-Pacific region.

News Market Reaction

+2.78%

1 alert

+2.78% News Effect

On the day this news was published, NKGN gained 2.78%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

NKMax stake: 65% Acquisition value: $16.9M Alzheimer’s response rate: over 90% of patients +3 more

6 metrics

NKMax stake 65% Controlling stake in NKMax Co., Ltd. acquired Sep 9, 2025

Acquisition value $16.9M Purchase price for 65% of NKMax Co., Ltd.

Alzheimer’s response rate over 90% of patients Alzheimer’s patients treated with troculeucel to date

Price reaction -11.67% 24h move after NKMax acquisition news (Sep 9, 2025)

Current share price $0.037 Pre-news last price vs 52-week high of $0.9649

Market cap $8,598,474 Equity value prior to current board announcement

Market Reality Check

Price: $0.0600 Vol: Volume 4,209 is at 0.49x ...

low vol

$0.0600 Last Close

Volume Volume 4,209 is at 0.49x the 20-day average of 8,619, indicating subdued trading. low

Technical Shares trade below the 200-day MA of 0.21, with the last price at 0.037 and well under the 52-week high of 0.9649.

Peers on Argus

Peer moves were mixed, with GENFF down 37.76%, TELIF down 7.63%, and HMTXF up 0....

Peer moves were mixed, with GENFF down 37.76%, TELIF down 7.63%, and HMTXF up 0.45%, while NKGN was flat at 0%, suggesting stock-specific rather than sector-wide drivers.

Historical Context

5 past events · Latest: Dec 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Affiliate governance update	Positive	+2.8%	New directors appointed to NKGen Korea following shareholder-approved name change.
Oct 09	Trading status clarification	Positive	+66.7%	Clarified OTC Expert Market quotation limits and progress on SEC filings.
Oct 06	Conference presentation	Neutral	+0.0%	Planned troculeucel presentation at World Congress of Neurology in Seoul.
Sep 18	Conference presentation	Neutral	+4.2%	Announcement of troculeucel talk at China Great Bay Cell and Gene Therapy Forum.
Sep 09	Controlling stake acquisition	Positive	-11.7%	Acquired 65% of NKMax for $16.9M, securing manufacturing and IP control.

Pattern Detected

News tied to trading status and regulatory clarity has seen the strongest positive reactions, while strategically positive M&A has previously met with negative price response. Conference updates have generally produced muted or modestly positive moves.

Recent Company History

Over the last six months, NKGen has focused on rebuilding its platform and Korean operations. On Sep 9, 2025, it completed a 65% stake acquisition of NKMax for $16.9M, gaining control of manufacturing and IP, but shares fell. Subsequent conference presentations on troculeucel in September and October saw limited price impact. An October clarification about OTC Expert Market trading restrictions drove a 66.67% gain. Today’s board statement at NKGen Korea aligns with ongoing efforts to stabilize and grow the affiliate post‑rehabilitation.

Market Pulse Summary

This announcement centers on strengthening NKGen’s majority-owned affiliate, NKGen Korea, through ne...

Analysis

This announcement centers on strengthening NKGen’s majority-owned affiliate, NKGen Korea, through new board appointments following its recent name change and rehabilitation process. The additions bring scientific, operational, and financial expertise to support NK cell therapy development in Asia. In context of earlier events—such as the $16.9M NKMax acquisition and prior conference presentations on troculeucel—investors may watch for concrete operational milestones, regulatory progress, and integration outcomes at NKGen Korea to gauge long-term impact.

Key Terms

autologous, allogeneic, natural killer, KOSDAQ

4 terms

autologous medical

"development and commercialization of innovative autologous and allogeneic natural killer"

Autologous describes a medical product or treatment made from a patient’s own cells or tissues rather than from a donor. For investors, autologous approaches matter because they can lower the risk of immune rejection and improve effectiveness, but they often require individualized manufacturing, complex logistics, and higher per-patient costs—factors that affect scalability, pricing, and regulatory hurdles in healthcare businesses.

allogeneic medical

"development and commercialization of innovative autologous and allogeneic natural killer"

Allogeneic describes a process or material involving different individuals of the same species, such as cells, tissues, or organs donated from one person to another. It is important to investors because products or treatments based on allogeneic sources can enable scalable, off-the-shelf solutions, potentially reducing costs and increasing accessibility in healthcare and biotech industries.

natural killer medical

"innovative autologous and allogeneic natural killer (“NK”) cell therapeutics"

Natural killer cells are a type of white blood cell that patrol the body and destroy infected or abnormal cells without needing prior exposure or a training period. They matter to investors because therapies, diagnostics, or drugs that boost, mimic, or measure these cells can become important products in cancer, infectious disease, and immune-oncology markets — think of them as security guards upgraded to spot and remove threats quickly, which can drive clinical and commercial value.

KOSDAQ regulatory

"NKGen Korea also announced through its official KOSDAQ disclosures"

kosdaq is South Korea’s stock market segment focused on smaller, fast-growing and technology-oriented companies, similar to how a city has a specialized marketplace for startups. It matters to investors because it provides a way to buy shares in early-stage or high-growth firms that can deliver big gains but also carry higher risk and price swings; think of it as a growth-focused section of the market where potential rewards and volatility are both elevated.

AI-generated analysis. Not financial advice.

SANTA ANA, Calif., Dec. 03, 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 and the majority owner of NKGen Biotech Korea Co., Ltd. (“NKGen Korea”), today issued the following statement regarding recent changes to the NKGen Korea Board of Directors (the “NKGen Korea Board”).

NKGen Korea, formerly NKMax Co., Ltd., recently completed a shareholder-approved name change on November 21, 2025. On this date, NKGen Korea also announced through its official KOSDAQ disclosures the appointment of three new members to its Board of Directors: Hanhan Xu, Xuan Zhang, and Dr. June H. Lee each for a three-year term. Earlier, on August 14, 2025, Dr. Angie You was appointed to the NKGen Korea Board for a one-year term. These appointments bring extensive experience in scientific leadership, operations, and strategic governance to support NKGen Korea’s growth and development in the Asia-Pacific region.

Director Biographies:

• Angie You, Ph.D., – Chief Executive Officer and Co-Founder of Architect Therapeutics; previously served as Chief Executive Officer of Amunix Pharmaceuticals.
• Hanhan Xu – Managing Director, AlpineBrook Capital Group; former Co-Founder and General Manager, Waterdrop Holdings; former Venture Partner, China Renaissance Capital.
• Xuan Zhang – Operating Director, AlpineBrook Capital Group; former Senior Financial Director, Guazi.com (Chehaoduo Group); former Financial Director, UMU Group; former Head of Mainland China Business Division, Heju Group.
• June H. Lee, M.D. – Former Chief Development Officer & Chief Operating Officer, MyoKardia, Inc.; Founder & CEO, Esker Therapeutics; current member of the Board of Directors of Eledon Pharmaceuticals, Inc.

“We welcome the addition of Dr. Angie You, Ms. Hanhan Xu, Ms. Xuan Zhang, and Dr. June Lee to the NKGen Korea Board,” said Paul Y. Song, M.D., Chief Executive Officer of NKGen and Chairman of NKGen Korea. “These appointments were made by the NKGen Korea Board, and as the majority shareholder, we fully support them. Each director brings a proven track record of building successful companies, along with deep operational and strategic expertise. Their guidance and governance will be invaluable as NKGen Korea emerges from rehabilitation and accelerates its development of NK cell therapies in Asia and lays the foundation for future commercialization. These appointments represent an exciting step forward in strengthening NKGen Korea’s leadership and advancing its mission across the Asia-Pacific region.”

About NKGen Biotech Korea Co., Ltd. (formerly NKMax Co., Ltd.)
NKGen Korea, based in Seoul, South Korea, is a clinical-stage biotechnology company developing advanced NK cell therapies. The company also commercializes bioreagents and immunodiagnostic technologies. Founded in 2002, NKGen Korea operates a GMP-certified cell therapy manufacturing facility supporting domestic and international clinical trials and research programs. NKGen Korea is a majority-owned subsidiary of NKGen Biotech, Inc.

About NKGen Biotech, Inc.
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 www.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 subject 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 expected impact of recent board appointments at NKGen Biotech Korea Co., Ltd.; the Company’s plans and expectations regarding its majority-owned subsidiary; anticipated governance, strategic, or operational benefits associated with the subsidiary’s updated leadership structure; and the Company’s broader development plans, including 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 the development of cell therapy product candidates; the risk that development timelines may be delayed or may not progress as expected; 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 majority ownership and oversight of NKGen Korea, including risks regarding the future performance of NKGen Korea’s business, the Company’s ability to successfully integrate its subsidiary’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 hereof. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof, 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

Who were the new board appointees at NKGen Korea announced on December 3, 2025 for NKGN?

The appointees are Dr. Angie You (appointed August 14, 2025, one-year term), and Hanhan Xu, Xuan Zhang, and Dr. June H. Lee (each appointed November 21, 2025 for three-year terms).

When did NKGen Korea change its name and disclose the board appointments for NKGN?

NKGen Korea completed a shareholder-approved name change and disclosed the board appointments on November 21, 2025 via KOSDAQ.

What terms were given to the NKGen Korea directors in the December 3, 2025 statement by NKGN?

Dr. Angie You was appointed for a one-year term; Hanhan Xu, Xuan Zhang, and Dr. June H. Lee were each appointed for three-year terms.

How did NKGen (NKGN) describe the expected role of the new NKGen Korea board members?

NKGen said the directors bring scientific, operational, and strategic governance experience to support NKGen Korea's growth and commercialization in the Asia-Pacific region.

Does the December 3, 2025 NKGN statement mention NKGen Korea's recovery status?

Yes, the statement says NKGen Korea is emerging from rehabilitation and the board additions will help accelerate development of NK cell therapies.

Where were the NKGen Korea board appointments disclosed according to the NKGN release?

The appointments were disclosed through NKGen Korea's official KOSDAQ disclosures.