 |
Photo = Shinhan Investment & Securities |
[Alpha Biz= Paul Lee] Shinhan Investment Corp. announced on June 17 that it has successfully exited its investment in AlbioTech, a Nasdaq-listed global biosimilar pharmaceutical company, achieving a 22% return. The cumulative return across three rounds of investment reached an average of 42%.
AlbioTech is known for its successful biosimilar launches of blockbuster drugs such as Humira and Stelara. In April 2023, Shinhan invested KRW 10 billion (approx. USD 7.2 million) in AlbioTech via convertible bonds through the "Shinhan Global New Technology Investment Fund No. 6." Since the investment, AlbioTech has significantly scaled its product sales, with revenue increasing 7.1 times and both EBITDA and operating profit turning sharply positive.
Park Shin-hwa, Head of Global Investment Banking at Shinhan Investment, stated, “We will continue to build our presence as a global equity investor and strategic financial partner by expanding our international direct coverage.” He added that Shinhan plans to pursue differentiated investment opportunities in high-growth sectors such as artificial intelligence, healthcare, and fintech.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
