South Korean drugmaker Yuhan Corp. sold its entire 9.84% stake in AprilBio through an after-hours block trade, marking the end of a three-year investment that yielded significant returns.
The company offloaded 2.16 million shares at 16,280 won ($12.50) each, totaling 35.1 billion won ($27 million). The transaction generated approximately 22.1 billion won ($17 million) in profit for Yuhan, translating to an annual return exceeding 30%.
Yuhan initially invested 3 billion won in AprilBio in November 2020, followed by an additional 10 billion won investment in March 2021. The partnership extended beyond shareholding, with both companies signing a joint research agreement in 2022 to develop treatments for refractory solid tumors.
Despite the share sale, Yuhan indicated that research cooperation would continue, though details about ongoing projects remain confidential until clinical trials begin. AprilBio suggested through its investor relations channel that Yuhan’s exit was motivated by funding needs rather than strategic concerns.
The divestment marks a shift in the relationship between the two biotechnology companies, which have been collaborating on drug development since 2022.
