Korean Biotech Sentiment Still Shaky But IPO Recovery Seen By Year-End
Investors Eye Upcoming SK Biopharm Float Next Year
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.
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After a year full of disappointing and unexpected events, the South Korean pharma sector is hoping for a turnaround in 2020, with expected biosimilar launches in global markets, progress in drug pipelines, large IPOs and implementation of a new law on cutting-edge biologics.
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 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.