Huons and unlisted Huonslab have abandoned their planned absorption merger after opposition from Huons Global minority shareholders, a sharp decline in Huons’ share price and concerns that the transaction could shift value from the holding company to its operating affiliate. Huons said on the 26th that its board resolved to terminate the agreement, prompting Huons Global to cancel the temporary shareholders’ meeting on the planned new-share issuance and merger. The merger had been intended to move Huonslab’s subcutaneous drug-conversion platform—identified in the existing record as HyDIFFUZE and in the latest account as HydeFuse—to Huons for commercialization. The withdrawal has also put succession-related speculation involving Huons Global vice chairman Yun In-sang on hold. Huonslab now faces pressure to secure funding despite recording a 10.2 billion Korean won operating loss last year and being in a state of capital impairment, while negotiations with two global pharmaceutical companies and potential material transfer agreements make technology exports a key test of its value.