HLB Group announced on Wednesday that it will invest in Neuroventy, a bio venture company that is developing treatments for brain diseases such as autism. The investment is worth a total of 1 billion won.

CEO Shin Chan-young (currently a professor at Konkuk University Graduate School of Medicine) and CEO Seo Dong-cheol from Seoul National University College of Pharmacy are the representatives of Neuroventy. Shin Chan-young, who is leading the technology field, is an expert in this field who has registered 203 SCI (E) papers in the field of cranial nerve diseases and holds multiple patents for brain diseases. Currently, the company is developing pipelines for treatment of autism spectrum disorder (ASD), attention deficit hyperactivity disorder (ADHD), and depression, and is conducting non-clinical CDRO (consignment trial and research institution) projects specializing in cranial nerve diseases.

The core pipeline, NV01-A02, targets autism spectrum disorder, the only neurological disorder that lacks a therapeutic agent. It is already in the phase 2 clinical preparation stage, and it has been confirmed that it is effective in improving social and homologous behavior by precisely controlling certain neurotransmitters even at low doses to restore the synaptic nervous system. In addition, NV01-A02 is a treatment for vulnerable X syndrome (FXS) and has been approved by the U.S. FDA for the Designation of Rare Drugs (ODD). The company expects that the technology will be widely used in the form of long-lasting injections in the future.

Through this investment, we also expect to see synergy in cooperation with HLB Group. According to a group official, strategic cooperation with Neuroventy is expected to become more active in developing epilepsy treatments for HLB Life Sciences (19,340 won ▲ 190 + 0.99%), developing R&D (R&D), collaborating with HLB Biostep (3,870 won ▲ 45 + 1.18%), and securing a new drug pipeline through an artificial intelligence (AI) new drug development platform.

The investment will be made through HLB Group Fund 'HLBI Albam No. 1 Investment Association', which is operated by HLB Investment. HLB Group is trying to find new growth engines for the group through HLB Investment, a CVC (corporate-led venture capital).

HLB Investment has made early-stage investments in Neoken Bio, which is developing treatments such as epilepsy with medical hemp with group funds, DeFi, a company that develops diagnosis/treatment solutions for sarcopenia, and Ateon Bio, an antibody-cancer drug development company.

"Neuroventi is a bio venture composed of the best researchers in the field of brain neurological diseases, and it is expected that phase 2 clinical trials will be carried out quickly by improving existing drugs for autism spectrum disorders," said Kim Bum-soo, vice president of HLB Investment's investment division. "We also expect to expand indications as a social control treatment for major neurological diseases in the future," he said. "The investment also considered the aspect that synergy will be high in joint research with HLB Group in the future."