HLB Group announced on the 10th that it has acquired ANYGEN, the only company in South Korea with a peptide manufacturing good manufacturing practice (GMP) certified factory.
ANYGEN disclosed on the same day that seven affiliates of HLB Group would participate in a 15 billion won third-party allocation paid-in capital increase and acquire 5 billion won in convertible bonds (CB). Separately, a financial investor (FI) will also acquire 5 billion won in paid-in capital increase and 35 billion won in convertible bonds.
Having faced financial difficulties, ANYGEN is expected to secure 60 billion won through HLB Group's acquisition to expedite the development of a new GLP-1 obesity treatment that significantly improves efficacy and pharmacokinetics (PK) compared to existing glucagon-like peptide (GLP)-1 obesity treatments.
The company's peptide synthesis and purification technology has been recognized both domestically and internationally. ANYGEN has developed over 5,000 peptide materials, with applications extending to medical materials and treatments, as well as cosmetics and beauty fields.
There is also high anticipation for the certification of pharmaceutical manufacturing and quality control (cGMP) for its raw material pharmaceutical production facility, which is currently awaiting review by the U.S. Food and Drug Administration (FDA). If FDA certification is obtained, the contract development and manufacturing organization (CDMO) business for a variety of peptide raw materials, including its key products leuprolide and ganirelix, could expand into the global market. Leuprolide and ganirelix are known as GPCR function-modulating peptides used for treating precocious puberty and infertility, respectively.
Im Chang-yun, vice chairman in charge of mergers and acquisitions (M&A) at HLB Group, noted, "As HLB Group's funding and technology combine, the CDMO business will be strengthened, leading to stable sales growth and rapid clinical progress in various areas, including obesity and diabetes treatments, as well as anticancer and antibiotic drugs."