SEOUL, Dec. 7 (Korea Bizwire) — South Korea will push for deregulation and provide various supportive measures for bio companies to promote their planned investment and nurture the sector as a new growth engine, the industry ministry said Wednesday. Samsung Biologics Co., SK Bioscience Co. and other bio firms have announced plans to invest a [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korean drugmaker SK Bioscience Co. said Tuesday it has signed a deal to join hands with the Coalition for Epidemic Preparedness Innovations (CEPI) to develop messenger RNA (mRNA) vaccines. Under the agreement, SK Bioscience will receive US$140 million for the project from CEPI, an Oslo-based international public-private partnership, [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korea’s antitrust watchdog said Thursday it has decided to slap a combined 2.6 billion-won (US$1.82 million) fine on global pharmaceutical firm AstraZeneca and local generic maker Alvogen on charges of forging a shady deal to avoid competition. Alvogen suspended its plan to release a generic version of Zoladex, [...]
SEOUL, Oct. 11 (Korea Bizwire) — Samsung Group’s de facto leader Lee Jae-yong on Tuesday attended the opening ceremony of the fourth plant of Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, in a sign of the group’s dedication to nurture biopharmaceuticals as one of its next growth drivers. The plant, which [...]
SEOUL, Sept. 27 (Korea Bizwire) — South Korean biopharmaceutical firm Celltrion Inc. said Tuesday it has received approval to sell its anticancer biosimilar Vegzelma in Japan. According to the company, Japan’s Ministry of Health, Labor and Welfare recently approved the sale of the biosimilar, also known as CT-P16, which referenced Switzerland-based Roche Holding’s blockbuster pill [...]
SEOUL, Sept. 7 (Korea Bizwire) — When it comes to startups, Dr.Tail Inc., a veterinary telehealth startup founded by Daehwa Rayer Lee, is as rare and as bold as they come. The Seoul-based company has set its sights on the U.S. pet care market — estimated at around US$150.8 billion as of 2020 — from [...]
SEOUL, Sept. 7 (Korea Bizwire) — Kakao Enterprise Corp., an artificial intelligence (AI) unit of the mobile messenger operator Kakao Corp., said Tuesday it had joined hands with Kangbuk Samsung Hospital to jointly develop a medical examination-assisting guide bot based on its AI chatbot Kakao i Connect Talk. The development of a medical examination-assisting chatbot [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s artificial intelligence (AI)-based medical equipment startups are establishing solid track records, playing a leading role in the digital healthcare market. A medical AI solution firm VUNO Inc., for instance, recently acquired licenses from the health authorities of Saudi Arabia and Thailand for its AI-based chest X-ray image [...]
SEOUL, Sept. 2 (Korea Bizwire) — SKYCovione, South Korea’s first homegrown COVID-19 vaccine developed by SK Bioscience Co., has been proven to be effective against coronavirus omicron subvariants when administered as a booster shot, a state-run research center said Friday. The Center for Infectious Disease Research (CIDR) said it has confirmed through research SKYCovione’s efficacy [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s pharmaceutical and biomedical companies are doubling down on nanomedicine-related investment and research efforts. The Life Science Fund, created jointly by Samsung C&T Corp. and Samsung Biologics Co., decided to invest 19 billion won (US$14 million) in U.S.-based biotech firm Senda Biosciences Inc. last week. Senda possesses the [...]