Handok and Genexine invested $25M USD in Rezolute in the U.S. to become the largest shareholder
- Rezolute, a biopharmaceutical company specialized in the development of innovative drug therapies for metabolic and orphan diseases,
- Handok and Genexine, securing experience in bio pharmaceuticals development of Rezolute and establishing a bridgehead for U.S. market through open innovation
On January 7th, Handok (Chairman&CEO Young Jin Kim) and Genexine (CEO You Suk Suh) jointly invested $25 million (approximately 28 billion Korean Won) in Rezolute, Inc. in the U.S. , securing 54% of its shares and became the largest shareholder. As a part of an open innovation, Handok and Genexine secured experiences in biopharmaceuticals development that Rezolute has built and established a bridgehead for expansion to the U.S. market through this investment.
Established in 2010, Rezolute is a biopharmaceutical development company that specializes in the development of innovative drug therapies for metabolic and orphan diseases. Currently, Rezolute is expecting Phase 2b clinical trials for a treatment of intravenous monoclonal antibody in congenital hyperinsulinism in the U.S. and Europe. Additionally, the company is conducting a pre-clinical toxicity test of oral plasma Kallikrein Inhibitor for diabetic macular edema and Phase 1 clinical trials for once-weekly injectable basal insulin for diabetes.
According to Young Jin Kim (Chairman&CEO of Handok), “Rezolute is a biopharmaceutical development company with very high growth potential and has many possibilities of future collaborations with Handok and Genexine. Especially the experiences in growth hormone development of the key members of Rezolute will help accelerate the global phase 3 clinical trials of long-acting growth hormone (GX-H9). In addition, we believe that Rezolute will play a significant role when Handok enters the U.S. market in the future”
According to said Nevan Elam (Chairman and CEO of Rezolute), “We are honored to have the supports from two mature pharmaceutical companies that are very active in pursuing therapies to treat metabolic diseases. This strategic investment will provide us with the needed capital to advance our clinical programs.”