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Korean Firms Join Hands To Pick Up Troubled US Cancer Vaccine Firm Argos

 
• By Jung Won Shin

Argos Therapeutics lands in the hands of Genexine and SCM Lifescience after the US immunotherapy firm was put up for sale by the Delaware bankruptcy court. The Korean biotechs plan to use the company’s cGMP facilities and experience in large US Phase III trials to accelerate their global market entry.

Acquisition
Korean Firms Join Hands To Acquire US Biotech Argos • Source: Shutterstock

Genexine Inc. and SCM Lifescience have jointly won the bidding to acquire US firm Argos Therapeutics Inc., which had been put up for sale by the Delaware bankruptcy court, for about KRW12.5bn ($11m), in a move that the two South Korean biotechs hope will accelerate their global R&D and market entry efforts.

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