1. Scrip
  2. >>Focus On Asia
  3. >>South Korea

Kolon TissueGene Faces Delisting In Korea On Invossa Uncertainties

 
• By Jung Won Shin

Kolon TissueGene is facing delisting in South Korea after the recent revocation of approval of gene therapy Invossa, which could fuel legal action from shareholders. The company still hopes to resume Invossa trials in the US by submitting additional data demanded by the FDA.

Stock Market Down - Illustration
Kolon Life Shares Drop 22% On Decision To Delist Kolon TissueGene • Source: Shutterstock

The Korea Exchange has decided to delist the depositary receipts of US-based Kolon TissueGene Inc. from the second-tier Kosdaq market following a ministry decision to cancel the approval of its lead product Invossa (TC-C; tonogenchoncel-L), an allogeneic cell and gene therapy for knee osteoarthritis. The move is expected to have a significant impact on the company’s business.

The Kosdaq review committee will finalize the initial delisting decision within 15 days, and if this goes forward it is...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from South Korea

Korea Q2 Roundup: Global Sales, License Income Boost Yuhan, GC

 
• By Jung Won Shin

Yuhan and GC Biopharma’s performances stood out among South Korean companies reporting Q2 results, boosted by license income, strong global growth and exports, while many others reported generally weaker figures.

With Planned US Facility Acquisition, Celltrion Looks To Avoid US Pharma Tariffs

 
• By Jung Won Shin

Celltrion is set to acquire a US biologics manufacturing facility that will "eliminate" its US tariff risks and provide a ready-made production base for future expansion.

Korean Biopharma Catching Up On AI, But What Are The Challenges?

 
• By Jung Won Shin

While South Korea's biopharma sector has made progress in its digital transformation, including the adoption of AI technologies, a recent report has identified multiple remaining challenges.

Q2 Korea Biotech Roundup: Licensing Deals End, Trials Progress, IPOs Recover

 
• By Jung Won Shin

Aside from several sizable global out-licensing deals, South Korean bioventures saw a cancellation of other alliances, updated their pipelines with losses and gains and reported clinical trial progress in the second quarter, while domestic IPO sentiment also improved.

More from Focus On Asia

Aurobindo Expects Lannett Acquisition To Pass FTC Scrutiny; Q1 US Revenue Falls

 
• By Vibha Ravi

Aurobindo is confident its planned Lannett acquisition will pass US FTC scrutiny after an attempt to acquire Sandoz assets was called off in 2020 post a delay in approval. The deal could widen Aurobindo’s US manufacturing presence at a time when its US Q1 revenue saw a year-on-year decline

Aurigene Oncology CEO On Biotech Valuations, CAR-Ts And Reimbursement Models

 
• By Anju Ghangurde

Aurigene Oncology CEO talks in this audio interview about the tough biotech funding environment, pipeline assets including a CAR-T therapy in Phase II, "hybrid" manufacturing, outcome-based reimbursement and the promise of bispecifics and multispecifics, including Akeso's PD-1/VEGF bispecific.

Multiple Factors Driving Japan’s Pioneering Angiosarcoma Pipeline

 
• By Lisa Takagi

Japan has emerged as a global leader in the development of new drugs for the rare cancer angiosarcoma, reflecting its rapidly ageing population and the limitations of current therapies.