HLB Innovation Acquires HLB Cell as Subsidiary to Establish Domestic Base for Cell Therapy
HLB Innovation is acquiring HLB Cell, a specialized cellular and regenerative medicine company, bringing it in as a subsidiary.
According to HLB Innovation on August 27, this acquisition is a strategic restructuring aimed at securing domestic implementation capabilities for the global cell therapy business, with the goal of expanding beyond Korea into Asian markets.
HLB Cell is a specialized company in cellular and regenerative medicine that has accumulated technology and research expertise in isolating, culturing, cryopreserving, and evaluating the quality of primary cells derived from humans and animals, as well as in producing extracellular matrices based on culture of normal human cells. In particular, with experience in research and clinical development of cell-based bioartificial livers, the company has built a foundation to expand its research into cell therapy businesses in the future.
Verismo is leading development of drug candidates, global clinical trials, and business development based on its proprietary KIR-CAR platform for CAR-T therapies, primarily in the United States. HLB Cell will play the role of expanding Verismo’s technologies and pipelines into Asian regions, leveraging its domestic research and development infrastructure. To this end, the company plans to pursue technology transfer and joint development in Asia, while also utilizing its own R&D capabilities to identify subsequent cell therapy pipelines.
The acquisition of HLB Cell aligns with HLB Group’s strategy to reorganize its business structure by reallocating capabilities centered around each affiliate’s core businesses and strengthening growth drivers. Following the integration of new drug development capabilities through the merger of HLB and HLB Science and the enhancement of pharmaceutical distribution capabilities through the acquisition of Shinhwa Advance by HLB Pharmaceutical, the group is now seeking to increase its competitiveness in cell therapy through this restructuring.
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Brian Kim, CEO of both HLB Innovation and Verismo, stated, “This acquisition is a strategic decision to maximize synergy by reallocating the group’s bio assets and specialized capabilities around core businesses. By combining Verismo’s global drug development capabilities with the research foundation built by HLB Cell since 2009, HLB Innovation will establish its own business capabilities in cell therapy and continuously expand its footprint in Korea and Asia.”
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