Cha Biotech said Thursday it will transfer 8.95 million shares in Cha Vaccine Institute, worth 23.8 billion won ($15.8 million), to Solux, AriBio Investment Purpose No. 13 and other investors.

Following the deal, Cha Biotech’s stake in the Kosdaq-listed affiliate will fall to 1.34 million shares, or 4.99 percent, marking a strategic exit from management control while retaining a minority stake for future collaboration.

The proceeds will be used to strengthen core growth areas, including cell and gene therapy (CGT), CDMO expansion and AI-based digital health care.

The move is part of a broader portfolio reshuffle aimed at concentrating resources on high-growth bio-health segments. Earlier, the group sold its entire stake in Solidus Investment, a bio-health venture capital firm, to JW Holdings.

While Cha Vaccine Institute focuses on next-generation vaccine development, the company said the segment offers limited synergy with CGT, which has emerged as the group’s primary growth driver.

Cha Biotech said it will continue to streamline its business portfolio around CGT, AI health care and life sciences to enhance its global competitiveness.

By Lee Han-gyoul (stlee0329@heraldcorp.com)