SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that Ana Brnabić, Prime Minister of the Republic of Serbia (Serbia) has visited the SK bioscience headquarters and signed a memorandum of understanding (MOU) with the compa
Hanmi Pharmaceutical has invested US$7 million to secure 670,000 shares in Canadian biotech firm Aptose Biosciences. According to pharmaceutical industry sources on Sept. 8, Hanmi Pharmaceutical announced its decision to acquire 668,449 shares of Aptose through a stock purchase agreement. This follo
Yuhan Corp. announced that it will collaborate with Cyrus Therapeutics, a biopharmaceutical company with targeted proteolysis development technology, to jointly develop new anti-cancer drugs and candidates.The two companies will conduct basic research on anti-cancer drug development, the joint devel
President Yoon Suk-yeol has picked up the biotech industry as a future growth driver and is determined to support it. To this end, the government’s budget for biotech R&D for 2024 has been expanded by 12 percent. Starting from 2024, the government will launch large-scale R&D projects to develop vacc
The Korean government is approving the sale of national core technologies to foreign companies, national core technology transfers, or foreign investment in national core technology holding organizations after receiving reports on them. The number of such cases has more than tripled over the last fi
Koo Kwang-mo, the CEO of LG Group, has embarked on reviewing the progresses and strategies for cultivating future growth areas like biotechnology and artificial intelligence (AI).From Aug. 21 (local time) and over the course of four days, Koo visited Boston, the U.S., and Toronto, Canada, to assess
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company has entered into a collaboration agreement with Vaxxas, an Australian biotechnology company developing a unique vaccine patch platform technology, to
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that its board of directors has decided to make an equity investment in Novavax, a global company advancing protein-based vaccines with its novel Matrix-M™ adjuvant, securi
LOTTE BIOLOGICS announced that they have signed a Memorandum of Understanding (MOU) with Roche Diagnostics, the diagnostic division of the global healthcare leading company Roche Group, to cement their cooperation in the Contract Development and Manufacturing Organization (CDMO) sphere.This MOU, sig
Samsung Bioepis is said to be reviewing the acquisition of the biosimilar business unit of U.S. biotech firm Biogen.According to the biotech industry on Aug. 2, Samsung Bioepis is considering acquiring Biogen’s biosimilar business unit, which has recently been put up for sale.Biogen has been a colla
The Korea Atomic Energy Research Institute (KAERI) has developed a technology that can mass produce radiopharmaceuticals.KAERI’s Proton Science Research Center announced on July 31 that it has developed an analytical method that can isolate copper-67, a radioactive substance used for treatment, in h
The trend of collaborations between domestic and foreign enterprises of various sizes to achieve success in new drug development is on the rise. Such collaborations are viewed within the industry as a potential model for “Korean-style Open Innovation” in the pharmaceutical and biotech sectors.Accord
Companies investing in biopharmaceutical-related technologies and production facilities will now be eligible for a maximum tax deduction of 35 percent.On July 27, the Ministry of Economy and Finance held the 56th session of the Tax System Advancement Review Committee presided over by Deputy Prime Mi
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, today released its 2023 Environmental, Social and Governance (ESG) Report.This is the company’s second ESG Report following last year to fulfill its commitment to engaging in sustain
After two decades since the establishment of diplomatic relations in 1992, China is likely to be knocked out from its role as the largest trading partner of the South Korean economy. The void left by China is quickly being filled by Korea’s ally, the United States.South Korea’s current account surpl
Both domestic and global information technology (IT) giants are now joining pharmaceutical and biotech companies in utilizing artificial intelligence (AI) for drug development. Some AI drug development firms are currently in the process of going public through initial public offerings (IPOs).Accordi
The government has designated seven specialized complexes for the nation’s advanced strategic industries such as semiconductors, secondary batteries, and displays. In addition to this, five specialized complexes for materials, parts and equipment have also been newly designated to focus on five othe
The Korean government has announced its intention to become the world’s No. 1 biopharmaceutical powerhouse by 2030 by attracting 15.7 trillion won in private investment and providing related support under the Bioeconomy 2.0 Initiative.At the Bioeconomy 2.0 Roundtable held at the Seoul BioHub on July
SK Co., Ltd. announced on July 18 that it had selected Brain Asset Management as the preferred negotiating partner for capital raising (pre-IPO) of its contract development and manufacturing organization (CDMO) subsidiary SK pharmteco. The scale of the investment attraction is around 500 million dol
Korea has ranked third in Asia in the global biopharma resilience index rankings in 2023. This represented a drop of two notches from 2021 when the COVID-19 pandemic was rampant. In the global rankings of 22 countries, Korea dropped sharply from 7th place to 12th over the same period. The decline wa