HanAll Biopharma

HanAll Biopharma

Traded on the KRX under 009420.KS, HanAll Biopharma operates from Hwaseong-si, with additional offices in Seoul and San Francisco. Its financial model relies heavily on out-licensing novel drug candidates, creating a recurring revenue stream from partnered programs. Full-year 2025 net revenue reached 155 billion KRW, with the company reporting consistent double-digit growth. The company's pipeline concentrates on autoimmune diseases and neurological disorders. Its lead asset, batoclimab, received Orphan Drug Designation in Japan, advancing a treatment for an undisclosed rare disease. Another candidate, HL192 (ATH-399A), completed a Phase 1 trial in partnership with Daewoong Pharmaceutical and NurrOn Pharmaceuticals, showing a well-tolerated safety profile. The firm later signed an exclusive licensing agreement with Turn Biotechnologies to utilize epigenetic reprogramming of aging technology, broadening its early-stage research capabilities. In mid-2024, HanAll appointed Christopher W Slavinsky as Chief Business Officer to oversee commercial strategy and partnership development. The team operates from a South Korean headquarters and a US base in San Francisco, supporting a global partnering strategy. A notable disruption occurred when the company received a termination notice for the HL161 licensing agreement, an event disclosed to KRX investors. HanAll's architecture stands apart from traditional biotech operators: it functions as a publicly traded platform that monetizes R&D through licensing fees and milestone payments rather than direct product sales, effectively acting as an asset manager for drug royalty streams.