SEOUL - South Korean President Lee Myung-bak named "17 new growth engines" at a science and technology council meeting at his office in Seoul Jan. 13. Expected to spearhead the country's economic growth for the next 10 years, of those 17 economic growth engines, the Korean government targeted biologics, medical devices and global health care among the national priorities
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CEO Paul Stoffels said gaining US clearance for an IND for its novel CAR-T product was demanding, but now opens up a pathway towards a pivotal study starting in 2025.
A final rejection of Leqembi could also spell the same fate for Lilly’s rival drug but public outcry and demand for Alzheimer’s therapies might force the regulator’s hand
Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.
Deal Snapshot: Including its internal efforts with bimagrumab, Lilly has been seeking a muscle-sparing therapy to complement GLP-1 obesity drugs, such as Zepbound.
Plus deals involving BioAge/JiKang, Sanyou/Medicovestor, AriBio/Acino, Intragrand/Transpire, Kaken/Twocells, Sumitomo/Novo Nordisk, NIBEC/Undisclosed, Formosa/Adalvo, Drug Farm/Amoytop, Lupin/SteinCares and Lupin/Honeywell.
