[Public Notice+] HL Biopharma "Immunomic Founder Dr. William Hull Joins as Director"

[Asia Economy Reporter Hyunseok Yoo] HL Biopharma announced on the 13th through a public disclosure that it will appoint Dr. William Hearl, CEO of Immunomic Therapeutics, as a director. On the 27th of last month, HL Biopharma decided to invest in and acquire Immunomic Therapeutics to secure a new anticancer pipeline and plans to expand its stake to 51%, aiming to pursue an initial public offering (IPO) on the Nasdaq or KOSDAQ market.

William Hearl, founder and CEO of Immunomic, holds a Ph.D. in Biochemistry from the University of Tennessee and is a biotechnology expert who has dedicated over 20 years to developing various therapeutics, including treatments for HIV and hepatitis C, at global pharmaceutical companies and research institutes such as Electro-Nucleonics.

In particular, in 2006, he led the development of the immune therapy platform technology UNITE (UNiversal Intracellular Targeted Expression), based on technologies from Johns Hopkins and Duke University. He was the key figure who oversaw the entire process of licensing out an allergy treatment developed on the basis of UNITE to Astellas.

Dr. Hearl expressed, "I am very proud to become a member of HL Biopharma, which is leading the success of Lenvatinib," and added, "I will do my best to leverage my experience and knowledge to contribute to HL Biopharma's growth into a global pharmaceutical and biotech group."

Immunomic is recognized as a global leading company in the DNA vaccine field with next-generation technology by multiple market reports such as Allied Market Research, Data Bridge Market Research, and Market Watch. In 2015, it licensed out its allergy treatment to Astellas for $315 million. Considering that the $315 million received upfront is under a non-refundable contract, the company explains that this is regarded as one of the most outstanding licensing deals in the global pharmaceutical and biotech industry.

Currently, Immunomic is conducting a Phase 2 clinical trial for glioblastoma (brain tumor) and plans to apply for approval as an innovative new drug if favorable results are obtained by the scheduled completion in the second half of this year. Additionally, Immunomic is developing a new therapeutic vaccine for glioblastoma called ITI-1001, having recently completed a pre-IND meeting for Phase 1 clinical trials. The company is also preparing clinical trials for seven types of cancer, including stomach, liver, and skin cancers, and plans to continue expanding indications.

Last year, HL Biopharma announced a development plan for Lenvatinib, setting a goal to launch five anticancer drugs within five years, starting with third- and fourth-line treatments for stomach cancer, followed by first-line liver cancer, synovial sarcoma, second-line stomach cancer, and third-line colorectal cancer treatments. In addition, patient recruitment for a sarcoma (solid tumor) treatment in combination with Opdivo has recently been completed, and there is a possibility of advancing a global Phase 3 trial for a first-line stomach cancer treatment combining Lenvatinib and Camrelizumab from Hansoh Pharmaceutical, suggesting that Lenvatinib’s indications will further expand. HL Biopharma’s Vice President Ki-Hong Ahn stated, "With Dr. Hearl joining HL Biopharma’s board of directors, the plan to launch five anticancer drugs within five years will become more concrete and proceed at a faster pace."

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