Genexine, ToolGen Merger Collapses Amid Stock Drops, But Collaboration Still Planned
The planned merger between Genexine and ToolGen, which was poised to create a major Korean biotech entity, has collapsed amid recent generally weak investor sentiment over the sector. But the two sides will maintain their collaborations for new drug development going forward, with a focus on gene and cell therapies.
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Plus deals involving SELLAS/3D Medicines, Kyowa Kirin/InveniAI, JW/Voronoi, Y-mAbs/Takeda, Horizon Discovery/Sanyou, Sentinel Oncology/PharmaEngine
Genexine’s recent M&A activity and foreign partnerships underscore its strategy on pipeline innovative therapeutics and biobetters as well as preparations to secure future growth engines, the Korean firm's vice-president tells Scrip in an interview.
The South Korean pharma/biotech industry suffered a series of negative blows in 2019 but there were still notable achievements including major drug approvals and large-scale licensing deals.