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
Former Kolon Group chairman Lee Woong-yeol, who stepped down from the post in November last year, turned out to be the highest-paid executive in South Korea last year, thanks to a hefty severance pay of 40 billion won (US$35.30 million) he received from five companies of the group upon retirement.Le
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
Korean blockchain and cryptocurrency companies are entering the competition in the simple payment market.Dunamu, the company behind South Korea’s cryptocurrency exchange platform Upbit, plans to allow partner companies of its “Luniverse” blockchain platform to build a main net, or an independent blo
When Kolon Group chairman Lee Woong-yeol announced on Nov. 28 that he would step down from all his posts within the group on Jan. 1 next year, he put his son and heir apparent Lee Kyu-ho to a severe test.The junior Lee, 35, was appointed as chief operating officer of Kolon Industries FnC at the grou
Prosecutors have launched an investigation into Lee Woong-yeol, 63, chairman of the Kolon Group who is suspected of evading inheritance taxes.The Seoul Central District Prosecutors' Office has begun investigating Lee as the National Tax Service (NTS) has pressed a tax evasion charge against him.
Kolon Group chairman Lee Woong-yeol unexpectedly declared on Nov. 28 that he would step down from all his posts within the group next year.Lee, 63, has run the textile group for 23 years since he took over its helm from the late Lee Dong-chan, his father and the son of Lee Won-man, the group’s found
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.
[비지니스코리아=이송훈 기자] 코오롱그룹 복합소재센터는 14일부터 사흘간 코엑스에서 열리는 아시아 최대 복합소재 전시회 ‘JEC ASIA 2018’에 참가한다. 이번 전시회에는 코오롱그룹의 아라미드 섬유를 비롯해 이를 이용한 중간재 및 자율주행차, 전기차 등의 핵심 소재인 경량화 복합소재 제품을 공개한다. 전시 품목 중 가장 주목받는 제품은 국내 최초로 개발 중인 복합소재 *리프 스프링(Leaf Spring, 판 용수철)이다. 리프 스프링은 트럭 등 화물차의 차체를 지지하는 부품으로 차체의 진동을 흡수하는 일종의 서스펜션이다. 코오
The Kolon Group is preparing for the era of group management by a fourth-generation member from its founder’s family.Recently, Kolon Global and real estate-sharing service company Libeto Inc. have decided to establish Libeto Pte. Ltd. in Singapore. Kolon Global will hold a 65.2% stake in Libeto Pte.
Kolon BASF innoPOM Inc., a 50:50 joint venture between Kolon Plastics and BASF of Germany established in 2016, said on Oct. 25 that its polyoxymethylene (POM) production plant in Gimcheon, Korea, has started operations.The new production facility has an annual capacity of 70,000 metric tons. When co
With foreign and institutional investors going on a heavy selling spree, the benchmark Korea Composite Stock Price Index (KOSPI) has fallen by 55.61 points or 2.57% to below the 2,100 level, which is considered as a psychological support line, hitting a yearly low once again.Market experts said that
Kolon Industries announced on September 18 that it has completed a tire cord factory in Vietnam's Binh Duong Province. Tire cords are a kind of fiber reinforcing material that acts as the frame of tires. It is an important material that is expected to grow in demand due to the emergence of vehic
Kolon Industries Inc., a core subsidiary of Kolon Group, will ramp up production of aramid, which is a high-tech industrial textile material.The company announced that it plans to expand the capacity of its Gumi plant in North Gyeongsang Province by 50 percent by the first quarter of 2020. The plant
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