ADBiotech Co., Ltd. (KOSDAQ:A179530) agreed to acquire a 19.36% stake in Wiju Inc. for KRW 1.29 billion on January 13, 2023. Under the terms ADBiotech Co., Ltd. acquired 2,578,252 shares comprising of 34,451 shares of common stock and 2,543,801 shares of preferred stock. Post completion, ADBiotech Co., Ltd will own 3,528,252 shares representing 28.07% stake.

The board of ADBiotech Co., Ltd. passed resolution for the transaction on January 13, 2023 and the transaction is expected to complete on January 17, 2023.