Keen global interest in the development of new drug modalities is being reflected in the trends of R&D support granted by a major South Korean state-run fund.
ADCs, New Modalities High On Korea State Fund’s Priorities
Oncology, Discovery-Stage Assets Lead
While oncology and discovery-stage assets accounted for the majority of R&D projects supported by a Korean state fund this year, new modalities such as ADCs and TPDs are emerging.
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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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The Danish firm is spending nearly $580m to repurchase up to 2.2 million shares
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The Texas-based firm is giving up on the investigational Alzheimer’s therapy after a second Phase III failure left it with nowhere to go in the disease.
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A decision from the FDA is due by 28 September.