Kangstem Soothes Investors, Finds Hope In New Trials For Furestem In Atopic Dermatitis
After the much anticipated Phase III South Korean clinical trial of its cord blood-derived stem cell therapy for atopic dermatitis failed to meet its primary endpoint, Kangstem Biotech shifts tactics to focus on repeated dose and combo trials in the hope of better efficacy data.
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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.
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.
Helped by a new partnership with Belgium-based MaSTherCell, the South Korean biotech is aiming to initially challenge the European market with a stem cell therapy for atopic dermatitis, derived from human umbilical cord blood.