RegeneRx Licensee Acquired by Korean Biopharmaceutical Group
RegeneRx Biopharmaceuticals, Inc., a clinical-stage drug improvement organization zeroed in on tissue security, fix and recovery), reported that GtreeBNT, the licensee for a long time items, is being obtained by HLB Group, a Korean organization that incorporates six biopharmaceutical and monetary auxiliaries in Korea and the U.S.
GtreeBNT reported that as a feature of its obtaining the organization would issue roughly US$80 million of new stock and convertible securities to HLB Group to finance progressing programs. The new capital should accelerate the clinical preliminaries presently in advance and permit the organization to zero in on new medication endorsement. RGN-259 will stay a need for the organization.
HLB’s prescribed chiefs are relied upon to be selected at the comprehensive gathering planned for October 29, 2021. Won Yang, the ebb and flow CEO of GtreeBNT, is relied upon to stay as the main examination official and keep on driving the advancement of new medications after the securing.
RegeneRx has booked its 2021 Annual Stockholder Meeting for November 10, 2021 and desires to have extra subtleties on the procurement and its impact on GtreeBNT’s clinical improvement exercises and timing identified with RGN-259 and RGN-137, items created for the treatment of dry eye disorder, neurotrophic keratitis, and epidermolysis bullosa.
The way that GtreeBNT will get a critical capital mixture identified with the exchange, we accept, should help the improvement of the items we authorized to the organization. When practicable after we get any new data from the new administration identified with our items we will refresh our investors.
– J.J. Finkelstein, president and CEO.
ABOUT REGENERX BIOPHARMACEUTICALS, INC.
RegeneRx is centered around the advancement of novel remedial peptides, including Thymosin beta 4 (Tβ4) and its constituent sections, for tissue and organ insurance, fix, and recovery. RegeneRx right now has three medication applicants in clinical advancement for ophthalmic,
cardiovascular/neuro and dermal signs, four dynamic vital authorizing arrangements in the U.S., China, and Pan Asia (Korea, Japan, and Australia, among others), and the EU, and has licenses and patent applications covering its items in numerous nations all through the world.
