Deal Watch: Roivant Spins Out Arvelle, Licenses Epilepsy Candidate From SK Biopharma
Already having launched several portfolio companies, Roivant goes a step further by spinning out CNS specialist Arvelle from Axovant. BI and IBM will incorporate blockchain technology in clinical trials, while AbbVie licenses multiple myeloma candidate from TeneoBio.
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SK Biopharmaceuticals receives US approval for novel anti-epileptic drug, marking a major milestone for the South Korean firm in its goal of becoming a fully integrated global pharma and potentially boosting its huge planned IPO. Through its US subsidiary, the SK Group company will independently market and sell the product in the world’s biggest single market.
After a lackluster year so far for South Korean biotech IPOs amid disappointing clinical trial news, investor interest is beginning to pick up, with several companies that have been under the spotlight slated to debut on the market in the coming months.
The VC firm known for its new company formation efforts will launch 10-12 biopharma, device and diagnostic ventures with its fifth fund. Also, EpimAb raises a $74m series B round, three more drug developers join the IPO queue and Amicus leads recent follow-on offerings.