HLB Innovation buys 99.3% of HLB Cell to push cell therapy across Asia
What's the deal? HLB InnovationDealroom has a profile for this one. Try Dealroom → is acquiring a 99.30% stake in HLB CellDealroom has a profile for this one. Try Dealroom →, a cell and regenerative medicine company, from affiliate HLB Life ScienceDealroom has a profile for this one. Try Dealroom →. The Korean firm announced the deal on August 27, bringing HLB Cell in as a subsidiary to build a domestic base for the cell therapy business it has developed around US subsidiary Verismo Therapeutics.
What each side brings: HLB Cell has worked since 2009 on isolating, culturing, cryopreserving, and evaluating primary cells, plus producing extracellular matrix and developing cell-based bioartificial livers. Verismo develops drug candidates using KIR-CAR, its proprietary CAR-T therapy platform.
What's the endgame? HLB Innovation plans to link the two companies to expand globally. Verismo will lead drug development, clinical trials, and business development centred on the US, while HLB Cell extends that pipeline into Asia using domestic research infrastructure.
Why now? The deal is part of a broader restructuring at HLB GroupDealroom has a profile for this one. Try Dealroom →, which has been realigning capabilities around each affiliate's core business. HLB earlier merged with HLB Science to consolidate drug development, and HLB PharmaceuticalDealroom has a profile for this one. Try Dealroom → acquired Shinhwa AdvanceDealroom has a profile for this one. Try Dealroom → to strengthen distribution.
The two companies plan to pursue technology licensing and joint development across Asia while identifying follow-on cell therapy candidates.
What they're saying: "This acquisition is a strategic decision to maximize synergy by realigning the group's bio assets and specialized capabilities around core businesses," said Brian Kim, chief executive of HLB Innovation and Verismo. He said the deal combines Verismo's global drug development with the research base HLB Cell has built since 2009. (Translated from Korean.)
The signal: The acquisition reflects a group-wide consolidation strategy, concentrating scattered bio assets into focused units to give HLB Innovation independent footing in cell therapy and a route from US development into Asian markets.
Read more: en.sedaily.com
Image credit: Generated with Gemini
