Korean Pharmas Seek Tie-Ups, Support To Enter Pharmerging Markets
Kimco To Lead Government Project
Through its latest government-linked project, Korean pharma consortium Kimco aims to speed up industry collaboration and step up technology competitiveness to move into rapidly growing pharmerging markets.
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Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.
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.
Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.