SK Bioscience Readies $1.3bn IPO Amid Rosy Vaccine Outlook
Expects Continued Rise In COVID-19 Vaccine Demand
Vaccine specialist SK Bioscience is set to launch potentially South Korea’s biggest biopharma IPO next month on the back of a growing premium vaccine business, new opportunities in COVID-19 vaccines and its contract manufacturing operations.
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Financing for Korean bioventures and pharma firms remained strong this year amid ample liquidity and strong investor sentiment in the sector. SK Bioscience's IPO was the top fundraiser in 2021, followed by HK inno.N’s offering, while GI Innovation raised the most money from venture capital sources.
After record venture capital activity around South Korean biotechs last year, the strong investment interest has persisted so far this year, with an increased number of companies receiving large-scale funding as the promising sector emerges amid the pandemic.
Following a successful offering by Prestige BioPharma in January, investors will keep their focus on another upcoming major listing by the SK Group's specialist vaccines arm SK Bioscience, which is likely to set the tone for the South Korean biopharma IPO market this year.