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Joint Consultation of the Two Companies Forming New Drug R&D and Business Model Discovery... 6 Billion Funds Investment

On 9 March, Ildong Pharma (CEO Yoon Woong-sup) announced that it had signed an investment and strategic partnership agreement with bio-venture company Arbormed
(CEO Park Kyo-jin, Wim WeonBin) on new drug R&D.

Through this agreement, Ildong Pharma plans to invest 6 billion won in ArborMed and form a joint consultative body with ArborMed to promote R&D cooperation
such as the R&D of new drugs and the discovery of business models. It also agreed to leverage the infrastructure of ARBORMED Pharmaceuticals, a subsidiary of Arbormed in the United States,
to work with each other on future business related to its entry into the U.S. market.

ArborMed is a bio-venture focused on the R&D of new drugs in the field of rare and incurable diseases, and also has a promising R&D pipeline of Wilson's disease therapeutics,
rheumatoid and psoriasis therapeutics, and anesthetics introduced by partners in the United States and Germany.
In addition, its subsidiary, Arbormed Pharmaceutics in the United States, is responsible for the U.S. clinical and licensing of domestic new drugs and generic drugs,
and secures exclusive rights in the United States for a number of drugs, including anti-cancer drugs.

Mr. Yoon Woong-sup, President of Ildong Pharmaceuticals, said, "We are excited to partner with ArborMed with excellent R&D infrastructure and promising pipelines,"
and "We will actively cooperate to realize the new drug research and development tasks that we are pursuing together with ArborMed."

Lim Won-bin, CEO of Arbormed, said, "We hope that the strengths of the two companies will create synergy and create good results," adding, "We will do our best to achieve joint profits and purposes.