Bio Investments Group AG, a Swiss-based investment company, strongly denied media reports that the company and its CEO, Sam Mchour, were involved in the planned acquisition of Boryung Biopharma, a biopharma unit of Boryung Group based in Korea. 

Some media outlets reported Thursday that PCL, an in vitro diagnosis medical device maker, had partnered with a foreign private equity fund led by Sam Mchour to acquire Boryung Biopharma. Reports said the private equity fund had decided to invest around 650 billion won ($498 million) to acquire Boryung Biopharma, pushing PCL's share price by nearly 20 percent on Thursday.

However, Bio Investments Group said that the information that Bio Investments Group, its executives, and other key officials have entered into an acquisition partnership with in vitro diagnostic company PCL was false without any grounds. The group also categorically denied that anyone, including its executives, agreed with PCL to acquire Boryung Biopharma, contacted Boryung Biopharma, or conducted due diligence alone or with PCL.

Bio Investments Group said it has no plans to acquire Boryung Biopharma or any other Korean manufacturing company.

Expressing deep concerns that false information in the media can harm investors and stakeholders, the group said it would take all necessary legal action against any unauthorized dissemination or publication of such information.

"We will fully cooperate with the relevant authorities in their investigation of this incident, and our top priority is to protect the rights and interests of our investors, partners, and the broader financial community," Bio Investments Group said. "We reiterate that we have had no contact with PCL for the acquisition of Boryung Biopharma, nor have any of our executives, employees, and agents agreed to a partnership."