DanDi Bioscience

http://m.thebell.co.kr/m/newsview.asp?svccode=00&newskey=202103151217401040105048 

This post has been translated from the original article dated 3/15/2021. 

This article was published on March 15, 2021 at 14:47 The Bell paid page.

Dandi Bioscience (hereafter Dandi Bio), a KONEX-listed company, will join personnel from HLB as an inside director. Kim Jong-won, CEO of Next Science, of which HLB Chairman Jin Yang-gon is the largest shareholder, will be appointed. Dandi Bio is expected to be imprinted as an HLB group company through the composition of the board of directors.

Dandi Bio plans to hold a regular shareholders' meeting on the 25th and vote on agendas such as approval of financial statements and appointment of directors.

The key is that personnel from HLB will join the board of directors of Dandi Bio as an inside director. Until last year, he participated only as a non-executive director. Currently, only two people, CEO Park Young-min and Chairman Jin, are inside directors of Dandi Bio. HLB President Jeon Bok-hwan, Next Science CEO Lee Eul-kyu, and Next Science Vice President Baek Yoon-ki were named as other non-executive directors.

The newly appointed inside directors are Kim Jong-won, CEO of Next Science, and Kwon Young-gyu, vice president of Dandibio. Chairman Jin, the existing inside director, is also facing re-election. If the bill is passed, Dandi Bio will complete a system of 7 registered directors, led by CEO Park Young-min.

Representative Kim is currently the official representative of HLB Power, but was recently appointed as Next Science. He served as CEO of ACA Investments from 2011 to 2015 after serving as representative of J&K Japan. The following year, in the process of absorbing and merging HLB Power with Samkwang PS, Chairman Jin recruited CEO Kim. CEO Kim is the person who led H.L.B. Power's turnaround in the 3 years since his inauguration.

In October 2018, Dandibio joined hands with HLB Group, welcoming Next Science as the largest shareholder. HLB does not directly hold a stake in Dandi Bio. Next Science was first incorporated into the HLB Group in August of the same year.

As of the end of last year, Next Science owns 54.11% of Dandibio's shares, maintaining a firm grip.

Dandi Bio is expected to strengthen its identity as a group affiliate by forming a board of directors centered on personnel from HLB. It is expected to continue organic cooperation with HLB Life Sciences and Immunomic Therapeutics within the group and utilize its clinical experience.

Established in 2016, Dandi Bio's main pipeline is sepsis treatment. While CEO Park was concentrating on immuno-anticancer drug research, he came up with an idea for a protein that can control sepsis and founded the company.

The candidate substance (DD-S052) secured by Dandi Bio has a mechanism of action that catches Gram-negative bacteria and removes toxins. In the preclinical process, inflammatory response suppression and low toxicity were confirmed, and it is aiming to enter phase 1 clinical trial in the United States this year.