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Biotech, Small Pharma IPO Market Frozen For At Least Next Year, VCs Say – Bio Korea

This article was originally published in PharmAsia News

Executive Summary

OSONG, South Korea - The worldwide market for biotech and other pharmaceutical companies seeking funds through initial public offers is closed for at least a year and other sources of money are becoming scarce as well, venture capital firms said during the annual Bio Korea conference in Osong, South Korea

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SEOUL - Novartis Korea Venture Fund, OrbiMed's Caduceus Asia Partners and local vaccine producer Green Cross plan to invest $6 million in the next three years to support development of PharmAbcine's fully human monoclonal antibodies to treat cancer and inflammatory diseases

Novartis Korea Venture Fund, OrbiMed Co-lead Series A Financing For South Korean mAb Developer PharmAbcine

SEOUL - Novartis Korea Venture Fund, OrbiMed's Caduceus Asia Partners and local vaccine producer Green Cross plan to invest $6 million in the next three years to support development of PharmAbcine's fully human monoclonal antibodies to treat cancer and inflammatory diseases

Novartis Korea Venture Fund, OrbiMed Co-lead Series A Financing For South Korean mAb Developer PharmAbcine

The financing is a first where a Korean start-up was able to attract an international syndicate of this stature, OrbiMed Caduceus Asia Partners Managing Director Chang said

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