South Korean bioventures felt a sharp deterioration in investor sentiment in the financing market in the second quarter, with venture capital financing declining and only one initial public offering launched during the period.
Korean Bioventures Suffer Q2 Financing Drought
VC Investment Drops, Only One IPO
Weak financing sentiment for Korean bioventures continues this year with sharply lower fund inflows from venture capital and other investors, as well as delayed or withdrawn IPOs, in Q2. Amyloid Solution, Rznomics, and UPPthera were among the top fundraisers.
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South Korea's LigaChem is kickstarting a growth and globalization drive through a potential future acquisition of UK ADC player IKSUDA.
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A new report from a domestic institute on South Korea’s biopharma M&A trends shows a pickup in activity, but that this remains relatively weak and small-scale. It calls for broader domestic government support to build expertise, drive innovation and globalization.
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Cross-Asian initiative has already brought several South Korean gene and cell therapy startups and Japanese VCs closer, with further hopes for product development and launches in Japan, regulatory harmonization and gliobalization.
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The latest activity in the South Korean biotech sector includes IPOs by Orum and Dongkook Life, as well as progress with ADCs at multiple firms.
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Plus deals involving GV20/Mitsubishi Tanabe, Kaken/Alumis, AstraZeneca/Alteogen and deal terminations involving Clover/Gavi Alliance and Rhythm/RareStone.
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RemeGen is planning to complete enrolment in the global Phase III RemeMG study with telitacicept in generalized myasthenia gravis by the end of 2025 or early 2026. The Chinese firm has already sidelined two other global Phase III trials with the molecule to prioritize the indication.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.