Kim Tae-han, bio division chairman of HLB (028300.KS) Group, signaled confidence in future growth by purchasing shares of HLB Innovation (024850.KQ).
HLB disclosed in a large shareholding report on Thursday that Chairman Kim holds 210,000 shares of HLB Innovation. He acquired the shares through an on-market purchase on May 18, after joining the HLB Group. The disclosure was triggered by Kim's appointment as a registered executive of HLB on May 31, which newly classified him as a specially related person of affiliated companies.
HLB explained that the chairman's share purchase reflects a positive assessment of the overall business direction and growth strategy of the group, including HLB Innovation. Jin Yang-gon, chairman of HLB's board of directors, has also purchased 207,000 shares of HLB Innovation over four separate transactions this year.
HLB Innovation will present three papers related to chimeric antigen receptor T-cell (CAR-T) therapies at the American Association for Cancer Research (AACR) annual meeting on June 17 (local time). The interim Phase 1 clinical results of its solid tumor CAR-T therapy "SynKIR-110" were selected for a Clinical Trials Plenary (CTPL) oral presentation, the only Korean company to earn the distinction.
"HLB Innovation combines business stability and growth potential, backed by the stable growth of its semiconductor components business and the CAR-T pipeline of its U.S. subsidiary Verastem Therapeutics," an HLB Group official said. "It exemplifies HLB Group's balanced growth strategy."