Orion to acquire majority stake in LegoChem Bio

Jan. 16, 2024

Food and health care company Orion Holdings is acquiring a majority stake in LegoChem Bio, becoming the largest shareholder through a paid-in capital increase and the purchase of existing shares.

In total, Orion invested KRW 548.7 billion (approximately $411 million) to acquire a 25.73% stake, becoming the largest shareholder of the South Korea-based ADC specialist. The capital increase and payment for existing share purchase funds are scheduled for March 29th.

Aligning with its growth strategy, VISION 2030, LegoChem Bio plans to intensify research and development efforts with the funds from this agreement, aiming to become a leading global antibody-drug conjugate company.

Just prior to the new year, J&J's Janssen signed a potential $1.7 billion deal to develop and commercialize LCB84, LegoChem's Trop2-directed ADC.

Back in 2022, LegoChem Bio announced a $1.25 billion research collaboration and license agreement with Amgen. The collaboration aimed to jointly develop up to five investigational ADCs. Under the agreement, Amgen gained access to LegoChem's proprietary ConjuAll ADC technology platform to  facilitate optimized site-specific conjugation, along with selectively activating linker and payload technologies for ADCs.