Handok, 19.72% of Genexine Shares Acquired

Handok has acquired 19.72% of the shares of the bio-venture company, Genexine (CEO Young-Chul Sung). Handok has already concluded a strategic MOU for the development of new bio-medicine and bio-better in February, and has also concluded a contract for the joint development of continual growth hormone products in July.

This investment in shares is expected to supplement the capacity of research and development of new bio-medicine at Handok. Furthermore, this strategic partnership between Handok and Genexine has led to the construction of the basis for the production of 10 global blockbusters by 2020 by benchmarking the successful global cooperative model of . Currently, Handok and Genexine are jointly developing the continual growth hormone, GX-H9, developed with the use of Genexine’s hybrid FC technology.

This drug is currently at the stage of preclinical tests in Europe, and is expected to largely increase patients’ adjustment to administration in comparison to existing growth hormones. Handok and Genexine are in plans of jointly developing products for the entire world, with Europe as the starting point, and are also planning to branch into blockbuster products in the future. Furthermore, follow-up products are in development for rheumatic arthritis, cancer, osteoporosis, metabolic diseases, and rare diseases, as well as hepatitis B and cervical cancer treatment vaccine with the use of Genexine’s innovative treatment vaccine technology, hybrid FC.