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NKGen Biotech Announces New Funding to Regain Compliance with Reporting Obligations and Listing Standards

Funding in the amount of $2.0M from Japanese strategic investor, in the form of common equity PIPE with warrants.

New funding provides for necessary resources to regain compliance with reporting obligations and listing standards.

Share trading will move to the OTC Expert Market temporarily, with potential to uplist to OTCQB as soon as SEC filings are current, with plan to return to Nasdaq or to NYSE American.

SANTA ANA, Calif., July 16, 2025 (GLOBE NEWSWIRE) -- NKGen Biotech, Inc. (OTC:NKGN) ("NKGen" or the "Company"), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic natural killer ("NK") cell therapeutics, today announced that it has raised $2 million in new capital from a Japanese strategic investor, who will help NKGen bring its novel NK cell therapy, troculeucel, autologous expanded NK cell therapy, to the Japanese market.

The new investment was made in the form of shares of the Company's common stock priced at $0.25 per share and warrants, as described in the Company's Form 8-K filed with the Securities and Exchange Commission on July 16, 2025. This new injection of capital, the Company's ramping up of its Phase 2 clinical trial, the expected near-term satisfaction of public company reporting requirements and satisfaction of the previously disclosed payment obligation on the Company's senior secured debt are all critical to position the Company for long-term success.

"This past year presented significant external challenges, particularly stemming from the unexpected bankruptcy of our former parent company, NKMax Co., Ltd. in June 2024," said Paul Y. Song, M.D., Chairman and Chief Executive Officer of NKGen. "This event initially disrupted our ability to raise capital in the U.S. despite the encouraging progress we continued to make in our clinical trials and compassionate use cases. However, our team remained focused and committed to our mission. Through disciplined execution of our science and clinical programs, we not only sustained our momentum but also succeeded in securing the capital necessary to acquire a majority stake in NKMax out of bankruptcy, as previously disclosed. This transaction, expected to officially close in the coming month, removes a major overhang and allows us to consolidate key intellectual property rights across Asia. This strategic acquisition has already sparked renewed interest from both U.S. and international investors. We look forward to sharing ...