Huons Co., Ltd.

SEONGNAM, South Korea--( BUSINESS WIRE )-- Huons Co., Ltd. (KRX:243070) (Co-CEOs : Song Soo-young and Yoon Sang-bae) announced on November 5 that it has decided to acquire 2,647,378 shares of PanGen Biotech Inc. (Co-CEOs : Yoon Jae-seung and Jung In-cheol) by investing KRW 14.3 billion. Huons will own PanGen shares through the acquisition of existing shareholders and a paid-in capital increase via third-party allocation. Huons also concluded a stock purchase agreement with CG Invites, the existing largest shareholder of PanGen, through a board of directors’ resolution. The company will also acquire new shares issued by PanGen. After the acquisition, Huons will own a total of 3,983,167 shares, representing a 31.53% stake to be PanGen’s largest shareholder. After the acquisition, Huons plans to secure management rights through an extraordinary shareholders’ meeting of PanGen and incorporate it as a subsidiary. Huons intends to strengthen its biopharmaceutical R&D expertise and contract development and manufacturing organization (CDMO) business through this acquisition. PanGen is equipped with Good Manufacturing Practice (GMP) facilities for biopharmaceutical production, and ‘PanGen CHO-TECH’, a cell line development source technology, and productization capabilities. In June, PanGen, a raw material producer of human hyaluronidase, signed an entrustment contract with Huonslab, a Huons subsidiary, to produce clinical samples for ‘human hyaluronidase’ and conduct validation for product approval. Human hyaluronidase is used as a substance that can conveniently convert intravenous (IV) formulations such as anticancer and antibody drugs into subcutaneous (SC) formulations. The patent currently held by Halozyme expired in Korea in March. The US patent will expire in 2027. In preparation, Huonslab received approval for the human hyaluronidase clinical trial plan (IND) from the Ministry of Food and Drug Safety in August based on the raw material (DS) produced by PanGen and is in the course of developing it. Huons evaluates it has secured a stable production site for development and commercialization of biopharmaceuticals including human hyaluronidase. A Huons official said, “Through this acquisition, we’ll incorporate PanGen as a subsidiary to boost sales and enter the new biopharmaceutical CDMO business. We intend to lead the healthcare market by maximizing synergy between affiliates.” Huons expects to create more synergies between affiliates following the latest move. Notably, it aims to expand its capabilities in biopharmaceuticals and ultimately enhance its global competitiveness.

Huons Co. Ltd. has announced a strategic investment of KRW 14.3 billion ($10.4 million) in PanGen Biotech Inc. to strengthen its biopharmaceutical R&D and CDMO capabilities. The investment will see Huons acquire 2,647,378 shares of PanGen, giving it a 31.53% stake in the company. Following the acquisition, Huons plans to secure management rights and incorporate PanGen as a subsidiary. PanGen brings to the table GMP facilities for biopharmaceutical production, as well as a proprietary cell line development technology known as “PanGen CHO-TECH.” This technology, coupled with PanGen’s productization capabilities, aligns well with Huons’ strategy to expand its biopharmaceutical offerings. The two companies have already established a collaborative relationship. In June, PanGen signed a contract with Huonslab, a Huons subsidiary, to produce clinical samples of human hyaluronidase and conduct validation for product approval. Human hyaluronidase is a key ingredient in the development of subcutaneous formulations for various drugs, including cancer treatments and antibody therapies. By acquiring a significant stake in PanGen, Huons aims to accelerate its entry into the biopharmaceutical CDMO business and solidify its position in the global healthcare market. The company believes that this strategic move will create significant synergies between its affiliates and drive future growth.

A genetic medicine is only as good as its delivery mechanism, GenEdit demonstrated Tuesday, securing its second biotech deal and closing a $24 million series A1 round on the strength of its nanoparticle technology.Dubbed NanoGalaxy, GenEdit’s platform features thousands of chemically distinct hydrophilic nanoparticles (HNPs) designed to overcome the capacity, targeting, immunogenicity and manufacturing challenges faced by traditional methods of delivering genetic payloads, such as viral vectors. Solutions to delivery obstacles are top-of-mind for many in the industry. Last year, the majority of investors FirstWord spoke with in the first half listed delivery technologies as one of the key innovations they’re watching for both gene therapies and siRNAs.“Our hydrophilic nanoparticles have a unique set of attributes that make them an ideal solution for delivering genetic medicines,” GenEdit CEO Kunwoo Lee told FirstWord. “They can be screened and optimised for tissue selectivity; they can carry the widest variety of payloads of any delivery system, including DNA, mRNA, siRNA and protein; they can be dosed multiple times and remain active; and they are simple to manufacture and scale up.” Genentech makes its betThe delivery potential of GenEdit’s nanoparticles attracted a collaboration with Roche’s Genentech unit, earning the former $15 million upfront. The partners will use NanoGalaxy to discover and develop HNPs to deliver Genentech’s nucleic acid-based medicines for autoimmune diseases. Andrew Chan, Genentech’s SVP of research biology, told FirstWord, “This collaboration will complement and leverage Genentech's biological, and drug discovery and development capabilities in our pursuit of novel therapies for autoimmune diseases."Genentech will be responsible for preclinical, clinical, and regulatory activities. GenEdit is eligible for up to $629 million in milestones, plus tiered royalties.The partnership is GenEdit’s second in as many years. In 2022, the company signed a deal with Sarepta Therapeutics to leverage NanoGalaxy for gene editing therapeutics to treat neuromuscular diseases.Funding internal programmes Simultaneously, GenEdit will put its fresh $24 million venture financing towards development of its own pipeline, as well as further work on NanoGalaxy. The company’s preclinical portfolio includes candidates that target the nervous system.Tuesday’s round brings the company’s total raise to $58 million, Kunwoo said. Existing investors Eli Lilly, Sequoia Capital, Korea Investment Partners, Woori Venture Partners, DAYLI Partners, KB Investment, IMM Investment and TIMEFOLIO Asset Management participated in the round, along with new investors KDB Silicon Valley, Mirae Asset Venture Investment, ACVC, Pathway Partners, LoftyRock Investment, Terra VC, K2 Investment, Dong-A ST, KIMCO and Huons.