Hanall Bio Pharma, Conclusion of MOU for Korea Drug Development Fund Project of New Antibody Medicine against Autoimmunity Disease
- R&D Investment of 2.4 billion KRW for 2 years to Speed up Development for Global License
On 26th, Hanall Bio Pharma (CEO Kim Seong-uk and CEO Park Seung-guk) has announced that a novel antibody for autoimmune disease “HL161” under development has been selected as the Korea Drug Development Fund Project. Hanall will receive 2.4 billion KRW of R&D aid for 2 years to speed up the development of new medicine “HL161.”
“HL161” is an antibody medicine to cure severe autoimmune diseases like severe myasthenia, pemphigus, neurological myelitis, lupus hepatitis, and other diseases occurring from autoantibody attacking itself, and this novel antibody medicine decomposes and removes autoantibodies quickly within a body.
CEO Park Seung-guk has stated, “HL161 is a product to restrict function of receptor called FcRn that leads autoantibodies not to be dissolved in a body but to be distributed and accumulated in various organs, and it may be called as the ‘antibody to attack antibody.’ Compare to the method of removing autoantibodies physically through blood dialysis or of injecting large dose of immunoglobulin separated from blood plasma, we may expect ensured advantages from this medicine in terms of convenience, price, stability, and effect for patients.”
Moreover, he has also stated, “HL161 is a First-in-Class product with a mechanism completely different from other products, and since we could see clear effects from tests on monkeys, numerous foreign corporations are interested in this product. Therefore, we are expecting to achieve the contract of global license out before the beginning of clinical trial.”
Decided to grant R&D aid for “HL161” project of Hanall, (FDN) Korea Drug Development Fund Foundation (Center Director Ju Sang-eon) is a business foundation established in 2011 to support R&D of new medicine for the entire cycle by the Ministry of Science, ICT, and Future Planning, Ministryof Trade, Industry, and Energy, and Ministry of Health and Welfare. By November 2014, the foundation has achieved the engineering fee of 30 billion KRW through 8 technological transfers.
(FDN) MOU Ceremony for Korea Drug Development Fund Project with the Korea Drug
Development Fund Foundation
CEO Park Seung-guk of Hanall Bio Pharma (right) and the Center Director Ju Sang-eon of the Korea Drug Development Fund Foundation (left) are signing on the agreement to support 2.4 billion KRW of R&D aid for 2 years as “HL161” the novel antibody medicine for autoimmune disease by Hanall has been selected as the Korea Drug Development Fund Project.