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.

Korea’s Alteogen believes that formulation patents granted in the EU, US and Japan as well as a pending process patent may offer it a first-mover advantage on biosimilar aflibercept. The firm has just completed a Phase I trial for its proposed rival to Eylea.

Plus deals involving Astellas/Actinium, Sosei/PharmEnable, Aadi/EOC Pharma, BeiGene/Strand, Chi-Med/Inmagene, Alteogen/Intas, Sosei/AbbVie, Y-Biologics/3D Medicines.

Public Company Edition: Lilly’s COVID-19 antibody partner AbCellera launched one of the biggest IPOs of 2020, bringing in $483m. Also, two more SPACs went public; Sinovac, Biocryst and Kura Oncology arranged large financings; and Viatris plans post-merger layoffs.