New Funding To Give ViroMed ‘Favorable Position’ For Gene Therapy Deal
ViroMed joins a group of South Korean bioventures launching share offerings to fund R&D activities, in its case to beef up the clinical data package for its lead project VM202, which should in turn help with a licensing out deal for the gene therapy.
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Amid a boom in IPOs and valuations, experts at a recent forum in Seoul took a look at some of the success factors and challenges behind the rapid growth of South Korea’s bioventure sector.
South Korean bioventure Genexine is on track to meet its goal of progressing and expanding this year the clinical development of its leading assets - orphan disease drugs and cancer immunotherapies. The company now plans to raise new funds via share and bond issues to domestic and overseas investors including its Chinese strategic alliance partner Tasly.
Amid limited resources and marketing capabilities, South Korean pharmas are increasingly opting for improved and orphan drugs as their ticket to major global markets. Several companies shared their varying strategies for international success during a recent symposium in Seoul.