HLB Global acquires Barabio to jump into digital healthcare biz

HLB Global has announced its entry into the digital healthcare business.

HLB Global said it has acquired 355,000 shares of Barabio, a developer of next-generation immuno-oncology drugs, (26,900 old shares and 328,100 new shares) for about 6 billion won ($4.3 million).

As a result, HLB Global now holds a 68.57 percent stake in Barabio. The company explained that the acquisition aims to establish a foundation for its digital healthcare business.

Barabio is a biotech venture founded in 2021 by Professor Ahn Chul-woo of the Department of Endocrinology at Gangnam Severance Hospital. It specializes in developing CD-96-based immuno-oncology drugs, diagnostic kits using metabolic diseases and muscle-related biomarkers, and establishing a digital healthcare platform.

Through this acquisition, HLB Global plans to make “silver healthcare” a future growth engine along with media commerce. Professor Ahn plans to directly participate in developing health-functional food and other digital healthcare solutions in the field of silver healthcare that HLB Global is promoting.

"Through this acquisition and investment, we will be able to accelerate our entry into the senior healthcare sector, which is rapidly growing in market size," HLB Global CEO Kim Kwang-jae said. "Based on cooperation with Barabio, we will become a leading company in the domestic silver industry by developing and supplying various personalized healthcare solutions."