1. The part concerning the claim for invalidity of issuance of new shares among the lawsuit in this case is dismissed.

2. Of the instant lawsuit, the part regarding the claim for monetary payment.

1. Basic facts

A. The Plaintiff is an investment company for the establishment of small and medium enterprises established under the Support for Small and Medium Enterprise Establishment Act, which is an executive member of Boston Patent Technology Commercialization Investment Association (hereinafter “Patent Technology Investment Association”) and Boston Cather Investment Association (hereinafter “Cather Investment Association”), and the Defendant is a company established for the research and development of biotechnology drugs.

B. On January 13, 2011, the Patent Technology Investment Association and the Creshion Investment Association (hereinafter “instant investment association”) concluded a share acceptance agreement with the Defendant to acquire each share of KRW 266,667 per share and KRW 133,334 per share with respect to the Defendant’s priority for repayment conversion (hereinafter “instant share acceptance agreement”).

Under the instant stock acceptance contract, the patent technology investment association and the documentary venture investment association paid the acquisition price to the Defendant and acquired the said shares, respectively.

C. On May 18, 2015, the Defendant issued 713,639 common shares of KRW 500 per share at KRW 4,00 per share by third party allocation (hereinafter “instant primary issuance”) and on June 16, 2015, issued KRW 271,400 common shares of KRW 500 per share at KRW 4,00 per share by third party allocation.

(hereinafter “instant secondary issuance of new shares”) D.

After May 2016, the Cathere Investment Association is no longer in the position of the defendant's shareholder after disposing of the defendant's shares, and the patent technology investment association currently holds 133,33 shares of the defendant by disposing of part of the defendant's shares.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 2, 3, 5, and 6, the purport of the whole pleadings

2. The parties' assertion

A. The Plaintiff’s managing member of the instant investment association and the Defendant’s shareholder, claiming invalidation of the issuance of the second new shares against the Defendant, and the instant claim.