HLB Innovation said on the 15th that Jin Yang-gon, chair of HLB Group, bought 86,000 shares of the company on the market.
Jin has purchased HLB Innovation shares nine times so far this year. With this purchase, Jin's holdings of HLB Innovation shares increased to 542,407.
HLB Innovation is conducting a phase 1 clinical trial in the United States for an anticancer CAR (chimeric antigen receptor)-T therapy through its subsidiary "Verismo Therapeutics." It is developing two pipelines, including solid tumors and relapsed hematologic cancers, and interim clinical data for the CAR-T therapy targeting solid tumors is expected to be presented at an academic conference in the first half of next year.
Verismo's CAR-T Therapy features the application of a "multichain signaling structure" to address the problem of "T-cell exhaustion (a phenomenon in which T cells gradually lose the ability to attack cancer cells within tumor tissue)," which has been cited as a limitation of conventional CAR-T.
The company also said credibility is enhanced by the fact that a co-inventor who participated in developing the first CAR-T Therapy, "Kymriah," is directly involved in the research and clinical development.
An HLB Group official said, "Chair Jin Yang-gon proceeded with this additional share purchase as part of responsible management as the group's top executive," adding, "In the case of HLB Innovation, as it has recently drawn significant attention by sharing clinical progress with academia, the high future value also factored into the decision to buy."