SEOUL, Dec. 1 (Korea Bizwire) — Following the successful fourth launch of South Korea’s homegrown Nuri rocket, attention is turning to a field that could become a core pillar of the country’s future space industry: space-based pharmaceutical research and manufacturing. “Space pharmaceuticals” refers to using the unique conditions of space — particularly microgravity — to develop [...]
SEOUL, Nov. 25 (Korea Bizwire) — Samsung Group’s bio venture fund will invest in Chinese biotech firm Phrontline Biopharma as part of the group’s broader strategy to expand partnerships in antibody-drug conjugates (ADCs), the group said Tuesday. The investment fund will come from Life Science Fund, created jointly between Samsung Biologics Co., Samsung Bioepis Co. [...]
SEOUL, Nov. 21 (Korea Bizwire) — South Korea has nearly quadrupled its investment in “bio big data” over the past five years, reflecting the government’s drive to strengthen the country’s competitiveness in next-generation drug development and digital healthcare. According to a new report by the National Center for Biotechnology Policy Research, government investment in the sector [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korean biotechnology firms are securing multibillion-dollar licensing deals at a rapid pace, underscoring the rising global competitiveness of the country’s drug-development platforms. According to industry data released Sunday, ABL Bio recently signed a technology-transfer agreement with Eli Lilly for its “GrabBody” bispecific antibody platform, a deal worth up to [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s biotechnology industry output grew nearly 10 percent in 2024 from a year earlier despite persistent global trade uncertainties, industry data showed Tuesday. The country’s biotechnology industry production came to 22.92 trillion won (US$15.7 billion) last year, up from 20.87 trillion won in 2023, the Ministry of Trade, [...]
SEOUL, Oct. 21 (Korea Bizwire) – LG Chem Ltd.’s polio vaccine manufacturing facility in South Korea has received a certificate of containment from the World Health Organization (WHO), the first such recognition in Asia, the disease control agency said Tuesday. The facility was among only three in the world to earn the WHO certification, following [...]
SEOUL, Oct. 17 (Korea Bizwire) — South Korean pharmaceutical companies are intensifying efforts to develop combination drugs — single pills that treat multiple conditions — as patient demand for convenience and cost efficiency rises. Combination drugs contain two or more active ingredients, allowing patients to reduce pill intake and treatment expenses. According to industry sources [...]
SEOUL, Oct. 10 (Korea Bizwire) — While much of the world races to unlock the economic and therapeutic potential of medical cannabis, South Korea remains mired in outdated regulations that treat even non-psychoactive compounds as narcotics. Lawmakers and experts warn that this rigid stance is stifling domestic innovation, draining public healthcare funds, and pushing patients [...]
SEOUL, Oct. 10 (Korea Bizwire) – Celltrion Inc., a leading South Korean biopharmaceutical company, said Friday its biosimilar for eye diseases has received approval for sale in the United States. The U.S. Food and Drug Administration (FDA) has approved Eydenzelt, Celltrion’s biosimilar referencing Eylea, for the treatment of wet age-related macular degeneration and other ophthalmic [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s pharmaceutical and biotech firms are racing to close out the year under mounting pressure, with looming U.S. tariffs and sluggish drug development emerging as key challenges after the Chuseok holiday. Industry sources said Monday that the most immediate concern is the “U.S. tariff risk” following President Donald [...]