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, May 31 (Korea Bizwire) — The global gene therapy market is projected to soar to $36.6 billion (approximately 50 trillion won) by 2032, growing at a compound annual rate of 19.4%, according to a report released by the Korea Biotechnology Industry Organization on Thursday. Citing research from U.S. market analysis firm MarketsandMarkets, the report [...]
SEOUL, Jun. 4 (Korea Bizwire) – Pharmaceutical and biotechnology companies at home and abroad are striving to recreate the value of their products by expanding the therapeutic areas they can be used for, known as new indications. In March, the U.S. Food and Drug Administration approved the obesity drug Wegovy, made by the Danish company Novo [...]
SEOUL, June 7 (Korea Bizwire) — The South Korean government said Wednesday that it will give full support to the local biotechnology industry to raise the sector’s production capacity to 100 trillion won (US$76.9 billion) by 2030 as part of its plans to become the world-leading biotech economy. The Ministry of Science and ICT mapped [...]
SEOUL, May 3 (Korea Bizwire) — South Korean drug and biotechnology companies are speeding up efforts to explore new growth engines to cope with the shift of COVID-19 from pandemic to endemic. Pharmaceutical giant Celltrion Inc. aims to launch its autoimmune disease biosimilar Yuflyma in the United States this year. It also made an equity [...]
SEOUL, Jan. 2 (Korea Bizwire) — A recent study has revealed that one third of South Korean biotechnology companies have yet to make a single sale. According to a survey conducted by the Korea Biotechnology Industry Organization, 231 out of 786 biotech companies, or 29.4 percent, were in the pre-sales phase as of 2018. Even [...]
SEOUL, July 20 (Korea Bizwire) – ‘Open innovation’ refers to a company’s innovative means to develop a new product or service by sharing and accepting new knowledge and ideas from other companies or start-ups that have developed groundbreaking technology. The practice is becoming increasingly common in the Korean pharmaceutical and biotechnology industries. In the past, innovations were [...]
SEOUL, Korea, April 1 (Korea Bizwire) – A Korean research team successfully analyzed the genome of the Cinereous Vulture (Aegypius Monachus) for the first time. On March 31, the Ministry of Science, ICT and Future Planning announced the result of the research team comprised of the National Science Museum, the Theragen Etex Bioresearch Institute, the Cultural [...]