Vivozon-backed Lumimicro completed the acquisition of a 91% stake in Inist Bio Pharmaceutical for $61m.

Vivozon-backed Lumimicro, a bio company that develops new drugs specializing in pain and central nervous system diseases, completed the acquisition of a 91% stake in Inist Bio Pharmaceutical, a company operating in the medicinal and notanical manufacturing industry, for $61m. “Through the acquisition of Inist Bio Pharmaceuticals, Vivozon and LumiMicro will lay the foundation for a global comprehensive pharmaceutical group that can range from new drug development to finished drug production and sales. We will also speed up the progress of phase 3 clinical trials in Korea for the non-conservative, innovative new drug Offirangerin," Doo-Hyun Lee, Vivozon CEO.