VC Investment in South Korea’s biopharma sector drops again as investors continue to shy away amid higher interest rates and reduced out-licensing deals.

Scrip takes an infographic look at various factors to keep an eye on in South Korea's rapidly developing microbiome therapy landscape this year, including emerging companies and their pipelines.

Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.

The Pink Sheet takes a look back at major policy developments in South Korea in 2021 and ahead at what’s in store for the coming year.