| HLB Chairman Jin Yang-gon / Courtesy of HLB |
This article is the fifth in a series highlighting the growing importance of the biotech industry after the outbreak of the COVID-19 pandemic, shedding light on the nation's biotech companies. ― ED.
By Baek Byung-yeul
With Korean biotech companies receiving the global spotlight, the domestic biopharmaceutical company, HLB, is making its name known worldwide as an emerging business active in research, development and manufacturing.
HLB is widely known for its anticancer treatment, Rivoceranib, developed by its U.S. subsidiary, Elevar Therapeutics. The firm also has been seeking growth through merger and acquisition activities in an effort to become an industry leader.
“HLB is actively engaging in takeovers with an open attitude. We are looking for a way to grow together by joining up with companies that align with us or have a vision,” a company representative said.
As part of these efforts, HLB acquired domestic biopharmaceutical company Mediforum Pharmaceutical ― now called, “HLB Pharmaceutical” ― last year to strengthen the production, marketing and sales of its upcoming drug pipeline.
In September, HLB announced that it would become a new owner of the local biotech company, GtreeBNT, acquiring 40 billion won ($34.1 million) worth of third-party rights offerings and 50 billion won in convertible bonds.
GtreeBNT is a local distributor of novel drugs and COVID-19 vaccines such as AstraZeneca, Janssen and Pfizer. Also, GtreeBNT's U.S. subsidiary is developing RGN-259, a novel treatment for dry eye. Phase 3 clinical trials have been completed on the drug and its efficacy will be evaluated further at the U.S. Food and Drug Administration's pre-biologics license application (pre-BLA) meetings.
HLB said that the acquisition of GtreeBNT is being led by its affiliate, NextScience, and that the acquisition will help the biopharmaceutical group with the marketing and sales activities of COVID-19 vaccines and other drugs.
Among the company's novel drug pipeline, Rivoceranib is definitely raising market expectations. In September, during this year's European Society for Medical Oncology (ESMO) Congress, one of the leading medical conferences related to medical oncology, HLB's Chinese partner, Jiangsu Hengrui Medicine, presented the effectiveness of Rivoceranib in the results of 13 studies.
Jiangsu Hengrui Medicine holds the marketing rights to Rivoceranib in China. During the conference, held from Sept. 16 to 21, the company announced that clinical results showed Rivoceranib's efficacy in treating both liver and cervical cancer.
HLB's Chinese partner has been selling Rivoceranib for gastric cancer treatment in China since 2014. In January, the company expanded the applications of the drug as a secondary treatment for liver cancer.
Jiangsu Hengrui Medicine conducted a Phase 2 trial on 26 patients with advanced liver cancer, using hepatic artery infusion chemotherapy combined with Rivoceranib. The clinical results showed that two patients experienced complete remission, meaning the disappearance of all signs of cancer, in response to the treatment. The confirmed objective response rate (ORR) was 61.5 percent, while the disease control rate (DC) was 92.31 percent.
Another study was conducted on 22 patients with cervical cancer, using a combined treatment of Rivoceranib, Camrelizumab and nab-Paclitaxel. It showed promising results, as the clinical results confirmed five cases of complete remission, with an ORR rate of 71 percent.
HLB said that the test results confirmed the high efficacy of Rivoceranib, as well as a wide range of applications in combination with immunotoxin and cytotoxic anticancer drugs.
The company is also advancing into the COVID-19 vaccine business, as it acquired the global sales rights for the Nanocovax COVID-19 vaccine, developed by Vietnamese biotech company Nanogen in August.
HLB said that the Nanocovax vaccine is a recombinant protein subunit vaccine that succeeded in increasing the antibodies of volunteers in its Phase 2 clinical trials more than 60 times within 35 days after the first injection.
To expand its presence in the anticancer treatment market, HLB is also developing novel drugs for various uses, such as targeted anticancer drugs, as well as cancer immunotherapy, cell therapy, sepsis, vaccines and brain tumor treatments, through collaboration with subsidiaries and affiliates.
HLB is looking to streamline the process of new drug development through its HLB Bio eco-System (HBS), which integrates the R&D and core competencies of each affiliate.