Could SillaJen Get Back On Track Via M2N's Acquisition?
GreenFire Synergies Remain To Be Seen
SillaJen selects another Korean firm as its new owner as trading in its stock continues to be suspended following the probe into its former CEO. But it remains to be seen whether the acquisition can catalyze a business breakthrough and speed up clinical development for the oncolytic immunotherapeutic firm.
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Oncolytic virus firm SillaJen, which hoped to get back on track and resume stock trading after it found a new owner last year, is set to be delisted from Korea’s Kosdaq market as the exchange makes a preliminary decision.
Mergers and acquisitions are set to gain momentum in South Korea as firms outside the sector seek new growth engines and more open-minded biopharma companies seek rapid growth and globalization.
A late-phase assessment of the oncolytic virus in liver cancer patients was stopped early for futility but Transgene thinks the failure is an isolated event.