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Q2 Korean Biotech Roundup: Partners Return Multiple Assets

U-Turns For OliX, Artiva, Voronoi

 
• By Jung Won Shin

The second quarter in South Korea was marked by the return of several assets by licensing partners, including Thea Open Innovation, which gave back rights to two ophthalmic programs in-licensed from OliX. Merck & Co. also cancelled a co-research deal with Artiva Biotherapeutics.

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Disappointing news appeared to overflow in the South Korean biotech sector in the second quarter amid multiple returned assets from global partners, a lack of major new out-licensing deals, as well as discouraging developments in some late-phase clinical trials.

Among the most notable "U-turns" of assets, French firm Thea Open Innovation returned rights to two ophthalmic programs it had in-licensed from OliX Pharmaceuticals, Inc., while US major

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