[Alpha Biz= Paul Lee] SEOUL, South Korea – June 11, 2025 — Hyung In-woo, CEO of Smart&Growth, has officially become the largest shareholder of Ensol Biosciences, a clinical-stage biotech company listed on the KONEX market. Hyung has invested nearly KRW 40 billion since late last year, positioning himself as a key backer of the company’s long-term growth.
According to a filing with the Financial Supervisory Service on Tuesday, Hyung acquired 810,860 shares (6.57%) of Ensol Biosciences from former third-largest shareholder Yuhan Corporation via a block deal. The acquisition price was KRW 17,500 per share, about 30% below the previous day’s closing price, totaling KRW 14.2 billion.
As a result, Hyung’s stake in Ensol Biosciences has increased from 15.51% to 24.72%, overtaking CEO Kim Hae-jin, who now holds 17.74%, as the largest shareholder.
In a joint statement, Ensol Biosciences and Smart&Growth emphasized that the transaction was pre-arranged and cooperative. “Mr. Hyung has no plans to join the board or take part in management. He will remain a supportive financial investor, backing the current leadership to ensure the company’s stable and sustainable growth,” the statement read.
CEO Kim explained that Yuhan Corporation had approached the company with intentions to sell its shares for liquidity purposes. "To avoid stock volatility and protect existing investors, Mr. Hyung agreed to purchase the full stake," Kim said, stressing that the sale was unrelated to the upcoming Phase 3 trial results for P2K, Ensol’s investigational therapy for degenerative disc disease.
Hyung, who previously drew attention as the second-largest shareholder of KOSDAQ heavyweight Alteogen, has steadily increased his stake in Ensol Biosciences since late 2024. He invested KRW 10 billion in a rights offering and spent an additional KRW 20 billion acquiring stakes from Huons Meditech and Yuhan. Including related-party shares, his total investment is estimated at around KRW 40 billion.
The timing of Hyung’s investment is significant. Ensol Biosciences is expected to announce Phase 3 trial results for P2K — which was licensed to U.S.-based Spine BioPharma — next month. A successful outcome could unlock milestone payments and royalty revenues, and potentially revive the company’s long-delayed plans to transition from KONEX to the KOSDAQ.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
