The Ministry of Food and Drug Safety has revoked the license of Kolon Life Sciences' osteoarthritis gene therapy "Invossa" as it contained an ingredient that derived from a kidney instead of from cartilage.The ministry said on May 27, "One of the main ingredients of Invossa was identified as kid
Biotech shares are staggering due to a spate of unfavorable factors involving Samsung BioLogics Co. and Kolon TissueGene Inc. Investors have lost confidence in domestic biotech companies as a whole and are turning away from them.Samsung BioLogics, a biopharmaceutical unit of top South Korean conglom
Kolon Life Science announced on April 10 that it would verify the safety of Invossa, the world's first osteoarthritis gene therapy treatment, by keeping track of the 3,000 patients who were administered with the drug for 10 years.Questions were raised about the safety of Invossa after the compan
The main cell used in Kolon Life Science's osteoarthritis cell gene therapy treatment Invossa has been confirmed to be different from the one approved for marketing in Korea.Kolon Life Science held an emergency meeting on April 1 and announced that it will stop sales of Invossa. The recruitment
Kolon Life Science Inc. has voluntarily suspended sales of Invossa-K Inj. (gene therapy), a degenerative arthritis treatment, as a cell line different from the one permitted by the Ministry of Food and Drug Safety (MFDS) has been discovered.The MFDS requested that Kolon Life Science discontinue manu
Kolon Life Sciences announced on March 11 that it has obtained U.S. Food and Drug Administration (FDA)’s investigational new drug (IND) approval for phase 1 and phase 2a clinical trials of KLS-2031, a gene therapy for neuropathic pain.KLS-2031 is a pipeline succeeding the world's first osteoarth
Most of foreign companies listed on the domestic stock market over the past three years showed poor performance. All but one fell below their initial public offering (IPO) prices. They suffered a drop of 38 percent from the IPO prices on average.The number of foreign firms listed on the domestic sto
Kolon Life Sciences said on Jan. 14 that it has signed an agreement with Mundipharma of the United States to export 100 billion won (US$89.75 million) worth of Invossa, the world's first cell and gene therapy for osteoarthritis, to nine countries.Under the terms of the agreement, Mundipharma wil
Kolon Life Science announced on Nov. 19 that it has signed a technology export contract with multinational pharmaceutical company Mundipharma to launch Invossa-K, a cell gene therapy for osteoarthritis treatment developed by its subsidiary Kolon TissueGene, in Japan.The total contract amount is 667.
The Kolon Group is striving to boost its competitiveness in the pharmaceutical and biotechnology business through cooperation with Korean and foreign partners. The group plans to become a mid-sized pharmaceutical company by signing co-promotion agreements with global pharmaceutical companies at home
Invossa, Korea's first gene therapy drug for knee osteoarthritis developed by the Kolon Group, made a foray into China, the largest market in Asia. Kolon signed a contract to supply 230 billion won (US$207 million) worth of Invossa to Henan Province in China for five years. The deal represents o
Invossa, South Korea’s first gene therapy for knee osteoarthritis developed by the Kolon Group, has crossed the final threshold for the phase 3 clinical trial in the US.Kolon TissueGene, an affiliate of the Kolon Group, announced on July 6 that the company has got approval of its use of the clinical
Kolon Life Science Inc. will export Invossa K, the world’s first cell and gene therapy for knee osteoarthritis, to Hong Kong, Macao and Mongolia.The company announced on June 20 that it has signed a 16.9 billion won (US$15.25 million) contract with Zhongji 1 International Medical Group in Hong Kong
Lee Beom-seok, president of Kolon TissueGene Inc., is confident that the US Food and Drug Administration will give the green light to phase III clinical trials on Invossa, the world’s first knee osteoarthritis genetic therapy.“We have already secured 60 sites for the clinical trials and will add ano
Kolon Group was given the green light for exporting Invossa, the world's first cell gene-based osteoarthritis drug, to the Middle East.Lee Woong-yeol, chairman of the Kolon Group, met with Sheikh Saud Bin Saqr Al Qasimi, current emir of Ras Al Khaimah, who was visiting Korea in Kolon One & Only
Is this a growth pain or a bomb game?With biotech stocks still showing a sharply upward tendency, voices urging to brace for a bubble burst of small and mid-sized biotech stocks are growing. They point out that the bubble bursting time is gradually approaching due to several unfavorable factors such
Amid local bio pharmaceutical companies’ active development of new drug technologies, the Korean bio pharmaceutical industry shows mixed results in new technology exportation. The technology export of Kolon Life Science’s degenerative arthritis drug “Invossa” worth 440 billion won (US$407.11 million
The secondary KOSDAQ market has continued on an upward swing from October, it surpassed the main bourse KOSPI in terms of an annual rate of returns for the first time on November 21. In particular, individual investors have gained higher returns on the bullish KOSDAQ market after October. However, t
Invossa, a novel cell-mediated therapy for degenerative arthritis, or osteoarthritis, of the knee, is running to the last hurdle after 19 years of the investment by Kolon Group chairman Lee Woong-yeul. Kolon Group successfully listed TissueGene, the original developer of Invossa, on South Korea's se
As food-and-entertainment conglomerate CJ Group has decided to sell off its pharmaceutical affiliate CJ Healthcare, bio pharmaceutical affiliates of domestic large businesses are drawing a bigger picture. They have different detailed strategies, such as spin-off, merger and listing, but they have a