HLB Life Science R&D, a subsidiary of HLB Life Science (067630.KQ), has been selected as a joint research institution for a national R&D project on medical cannabis active pharmaceutical ingredient (API) development, securing a foundation for business in the sector. The company plans to build a localized API production base while strengthening its research capabilities and commercialization competitiveness.
HLB Life Science R&D announced Wednesday that a consortium it participates in has been selected to carry out the "Agricultural Bio-resource-based National Essential Medicine Raw Material Supply Chain Response Technology Development Project," promoted by the Ministry of Agriculture, Food and Rural Affairs and managed by the Korea Institute of Planning and Evaluation for Technology in Food, Agriculture and Forestry.
The project focuses on establishing an advanced production platform for cannabidiol (CBD) APIs and developing cultivation technologies to secure stable raw material supplies. The goal is to localize high-purity CBD APIs, which are currently entirely dependent on imports.
CBD is a non-psychoactive compound extracted from cannabis that has drawn attention for its potential applications in anticancer treatment, anti-inflammatory therapy, and skin disease treatment. The consortium includes HLB Life Science R&D, Neocan Bio, Apac, Topolab, Dongguk University, Gyeongguk National University, and the Gyeongbuk Institute for Bioindustry.
The total project budget is approximately 5.7 billion won ($4.2 million). HLB Life Science R&D will utilize approximately 1.7 billion won to conduct core R&D activities including discovering preclinical indications based on hemp-derived CBD, establishing chemistry, manufacturing and controls (CMC), and preparing investigational new drug (IND) applications. The company expects to accumulate full-cycle R&D experience from preclinical through CMC to IND stages, strengthening its pipeline expansion and technology commercialization foundation.
"This project selection is a meaningful achievement that once again demonstrates HLB Life Science R&D's research capabilities and technological competitiveness," said CEO Kim Yeon-tae. "We will work closely with consortium partners to build a foundation for localizing high-purity CBD APIs and continue to expand related R&D efforts."
