Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

SBI INVESTMENT KOREA CO., LTD.

2. Date of Event Requiring Statement (MM/DD/YYYY) 12/13/2022

3. Issuer Name and Ticker or Trading Symbol

Peak Bio, Inc. [PKBO]

(Last) (First) (Middle)

14TH FL., NC TOWER, 509,, TEHERAN-RO, GANGNAM-GU

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___X___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

SEOUL, M5

(City) (State) (Zip)

5. If Amendment, Date Original Filed(MM/DD/YYYY)

6. Individual or Joint/Group Filing(Check Applicable Line)

___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3621489 ⁽¹⁾	D ⁽²⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
(1)	Consists of 320,206 shares of common stock held by SBI Investment KOREA Co., Ltd. ("SBI"), 251,418 shares of common stock held by SBI Cross-border Advantage Fund, an affiliate of SBI, 599,202 shares of common stock held by SBI Healthcare Fund 1, an affiliate of SBI, 1,601,067 shares of common stock held by IBKC-SBI Bio Fund 1, an affiliate of SBI, 83,800 shares common stock held by SBI KIS 2016-1 Fund, an affiliate of SBI, 167,600 shares of common stock held 2014 KIF -SBI IT Investment Fund, an affiliate of SBI, 419,017 shares of common stock held by Global Gateway Fund 1, an affiliate of SBI and 179,179 shares of common stock held by 2019 SBI Job Creation Fund, an affiliate of SBI. These shares of common stock were acquired in the business combination consummated between Peak Bio, Inc. (f/k/a Ignyte Acquisition Corp.), Ignyte Korea Co., Ltd. and Peak Bio Co., Ltd.
(2)	This Form 3 is being filed jointly by SBI, SBI Cross-border Advantage Fund, SBI Healthcare Fund 1, IBKC-SBI Bio Fund 1, SBI KIS 2016-1 Fund, 2014 KIF-SBI IT Investment Fund, Global Gateway Fund 1 and 2019 SBI Job Creation Fund. Each Reporting Person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purpose of Section 16 or any other purpose.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SBI INVESTMENT KOREA CO., LTD. 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
SBI CROSS-BORDER ADVANTAGE FUND 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
SBI HEALTHCARE FUND I 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
2019 SBI JOB CREATION FUND 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
IKBC-SBI BIO FUND 1 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
SBI KIS 2016-1 FUND 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
2014 KIF-SBI IT INVESTMENT FUND 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X
GLOBAL GATEWAY FUND 1 14TH FL., NC TOWER, 509, TEHERAN-RO, GANGNAM-GU SEOUL, M5		X

Signatures
/s/ Joon-Hyo Lee, Co-CEO Eiichiro So, Co-CEO, SBI Investment Korea Co., Ltd.		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Authorized Persons, SBI Cross-border Advantage Fund		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Authorized Persons, SBI Healthcare Fund 1		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Co-CEO Eiichiro So, Authorized Persons, IBKC-SBI Bio Fund 1		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Co-CEO of SBI Investment Korea Co., Ltd., Authorized Person, SBI KIS 2016-1 Fund		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Authorized Persons, 2014 KIF-SBI IT Investment Fund		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Authorized Persons, Global Gateway Fund 1		2/28/2023
^**Signature of Reporting Person		Date
/s/ Joon-Hyo Lee, Eiichiro So, Authorized Persons, 2019 SBI Job Creation Fund		2/28/2023
^**Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.