Domestic venture capital (VC) UTC Investment sold 1,236,322 shares of Bridge Biotherapeutics. The average selling price was 1,466 won, indicating that they likely incurred a loss.
According to the Financial Supervisory Service's electronic disclosure system on the 23rd, UTC Investment announced that its equity in Bridge Biotherapeutics decreased from 9.19% to 1.58%.
Bridge Biotherapeutics had recorded lower limits for five consecutive trading days since the 15th and escaped the lower limit on the 22nd, but it fell for two consecutive trading days, closing at 1,259 won on that day.
Bridge Biotherapeutics announced after the market close on the 14th that it failed to confirm a meaningful improvement effect in clinical trial Phase 2 for 'BBT-877,' a treatment for idiopathic pulmonary fibrosis, a rare disease that causes the lungs to harden and can lead to death in severe cases.
UTC Investment acquired 2,065,538 shares of Bridge Biotherapeutics in two transactions through its operating investment fund in September 2020 and July 2024.