HanAll Biopharma Invests in Interon to Seek Collaboration Opportunities

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Feb 10, 2023, 07:00 ET

HanAll will invest in Interon Laboratories, a preclinical-stage biotechnology company focused on treating complex neurological disorders
Interon is developing a new category of immunotherapy for people with neurological and immune disorders starting with autism spectrum disorder

SEOUL, South Korea, Feb. 10, 2023 /PRNewswire/ -- HanAll Biopharma Co., Ltd. (KRX: 009420.KS) today announced that it is investing in Interon Laboratories, Inc., a US-based biotechnology company focusing on discovering and developing innovative treatments for brain diseases. The investment will fund Interon's continued development of its lead programs targeting an array of neurological and immune disorders.

HanAll Biopharma and Interon logo.

Interon is currently focused on developing therapeutics for severe autism spectrum disorder (ASD) by modulating the neuro-immune axis pathway. Interon's technology was pioneered by the scientific co-founders at Harvard Medical School and MIT. Using the technology, Interon will proceed with pre-clinical research on developing therapies targeting indications in neurological disorders, starting with ASD.

"We are deeply impressed by the Interon's neuro-immunological approach to treat autism spectrum disorder, and we look forward to further collaborations to make a meaningful contribution to patients," said Sean Jeong, M.D., CEO of HanAll Biopharma.

"Interon is excited to partner with HanAll in our shared goal of developing novel therapeutics to improve human health. We believe HanAll's expertise and history of innovation will help accelerate Interon's lead programs," said Jaspaul Singh, Co-Founder and CEO of Interon Laboratories.

About HanAll Biopharma

HanAll Biopharma (KRX: 009420.KS) is a global biopharmaceutical company founded in 1973, with a mission of making meaningful contributions to patients' lives by introducing innovative, impactful therapies to address severe unmet medical needs. HanAll has been operating a portfolio of pharmaceutical products in areas ranging from endocrine, circulatory, and urologic diseases for more than 49 years.

HanAll has also expanded its focus to ophthalmology, immunology, oncology and neurology to discover and develop innovative medicines for patients with diseases for which there are no effective treatments. Its lead pipeline asset, HL161 (INN: batoclimab), an anti-FcRn antibody, is being developed in Phase 3 and Phase 2 trials across the world for the treatment of rare autoimmune disorders including myasthenia gravis, thyroid eye disease, warm autoimmune hymolytic anemia, neuromyelitis optica, and immune thrombocytopenia. Another main asset, HL036 (INN: tanfanercept), an anti-TNF alpha biologic, is being evaluated in Phase 3 clinical trials in the US and China for the treatment of dry eye disease. For further information connect with us on linkedin. For any media inquiries, please contact HanAll PR/IR ([email protected], [email protected]).

About Interon Laboratories

Interon Laboratories is a biotechnology company based in Boston, Massachusetts, USA. Interon is developing treatments for neurological disorders, including Autism Spectrum Disorder. Interon's platform technology can also be applied to treating other neurological disorders and inflammatory diseases.

Disclaimer statement

The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements." These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will," or "should" and include statements HANALL (the company, we) makes concerning its 2023 business and financial outlook and related plans; the therapeutic potential of its product candidates; the intended results of its strategy and the company, and its collaboration partners', advancement of, and anticipated clinical development, data readouts and regulatory milestones and plans, including the timing of planned clinical trials and expected data readouts; the design of future clinical trials and the timing and outcome of regulatory filings and regulatory approvals. By their nature, forward-looking statements involve risks and uncertainties, and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The company's actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors our expectations regarding its the inherent uncertainties associated with competitive developments, preclinical and clinical trial and product development activities and regulatory approval requirements; our reliance on collaborations with third parties; estimating the commercial potential of our product candidates; our ability to obtain and maintain protection of intellectual property for its technologies and drugs; our limited operating history; and our ability to obtain additional funding for operations and to complete the development and commercialization of its product candidates. A further list and description of these risks, uncertainties and other risks can be found in Korea Stock Exchange (KRX) filings and reports, including in our most recent annual report as well as subsequent filings and reports filed by the company with the KRX. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. We undertake no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by Korean law and regulations.

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