G2GBIO Signs Joint Development Agreement With HanWha Pharma For Hepatitis B Antiviral Injectables 

Attempt to Develop Daily Oral Treatment into 'World's First' Three-Monthly  Extended-Release Injectable Drug 

(Photo, attached separately, Kyoungrak Kim, CEO of HanWha Pharmaceutical, and Heeyong Lee, CEO of G2GBIO, from the left)

G2GBIO(CEO Heeyong Lee) is jointly developing long-acting hepatitis B antiviral injectables with HanWha Pharma (CEO Kyoungrak Kim)

On the 26th, G2GBIO announced that they have signed a joint development agreement with HanWha Pharma at the latter's headquarters in Seoul for the development of the long-acting hepatitis B antiviral injectable.

Oral treatment for Type B Hepatitis that is currently available requires regular and timely intake, which can be inconvenient. However, if successful, the development of a three-monthly extended-release injectable is expected to replace the need for daily oral medication. The aim is to use polymers to develop a treatment that requires daily intake into the world's first three-monthly extended-release injectable that requires only one injection every three months.

According to the joint development agreement, G2GBIO will be responsible for the formulation development, and manufacturing of investigational medicinal products and commercial products. On the other hand, HanWha Pharma will be responsible for conducting clinical trials, obtaining approvals, and handling sales for the extended-release injectables. Additionally, HanWha Pharma will secure rights for overseas markets, enabling them to venture into the global market.

The development of the injectable will utilize G2GBIO's patented technology called 'InnoLAMP'. InnoLAMP is an 'efficacy-sustaining platform' technology that utilizes biodegradable polymers to manufacture uniform microspheres of existing drugs. This ensures prolonged drug efficacy when administered in the body, allowing for sustained release.

This agreement began with HanWha Pharma approaching G2GBIO with a strong belief in the market potential of therapeutic extended-release injectables. Subsequently, HanWha Pharma made a strategic equity investment in G2GBIO, and through mutual consultations, both companies have now reached the formal signing of the contract on this day.

G2GBIO's CEO, Heeyong Lee, stated, "We will leverage the synergies between the technologies and strengths of both companies to drive the success of this project." He further added, "If successful, we anticipate not only expanding the market size but also significantly increasing the product's market share."

HanWha Pharma's CEO, Kyoungrak Kim, expressed, "We look forward to developing incrementally modified drugs through cooperation between the two companies and contributing to the national economy through exports beyond targeting domestic patients.”

According to experts, once the administration of antiviral drugs initiates, it should be regularly and continuously administered for a long time. Therefore, once the administration time has been missed, there is a high possibility that treatment will be disrupted. If injectables that are administered once every three months are marketed through joint development by the two companies, it is expected that these shortcomings will be overcome and treatment effects and patient convenience will be greatly improved.

Meanwhile, according to the Hepatitis B Foundation (www.hepb.org), the current number of chronic hepatitis B patients worldwide is approximately 300 million, with around 30 million new cases reported annually. In South Korea, an estimated 5-8% of the total population is believed to be infected with the hepatitis B virus. Among them, there are approximately 400,000 chronic patients, and the annual average growth rate of patients is as high as 4%.