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DongKoo Bio&Pharma said on May 19 that it has expanded its field of business to artificial intelligence by investing 3 billion won ($2.4 million) in medical solution provider Vuno. The two firms signed a memorandum of understanding whereby DongKoo Bio&Pharma will leverage its 50-year know-h...
Bill & Melinda Gates Foundation is doling out a series of funding for epidemic countermeasure research in Korea. SK Bioscience, a vaccine researcher and developer firm, said on May 18 that it has nabbed $3.6 million financial backing from the US foundation for to research the biologic structur...
Real-time polymerase chain reaction COVID-19 detection test kit maker Seegene saw a whopping 600 percent jump in its consolidated operating profit and net profit in the first quarter of 2020, according to company filings on May 14. Seegene rose from being one of many molecular diagnosis companies...
South Korea’s Hanmi Pharmaceutical may consider taking legal action against global biopharma Sanofi as the French company abruptly decided to halt participation in further research on efpeglenatide, a potential treatment for Type 2 diabetes. The Korean pharma issued a notice to shareholder...
The head of local biotechnology firm SillaJen was detained on May 12 for alleged involvement in insider trading, raising market fears over SillaJen’s fate as a Kosdaq-listed company. The Seoul Southern District Court issued an arrest warrant for SillaJen CEO Moon Eun-sang, citing a flight r...
Samsung Biologics on April 10 signed a binding letter of intent worth 440 billion won ($363 million) to manufacture US-based Vir’s COVID-19 treatment, starting 2021. It is the biggest single deal Samsung Biologics has taken since its 2016 initial public offering. Vir’s SARS-CoV-2 ...
The US subsidiary of South Korea’s Lutronic is facing a lawsuit for allegedly misappropriating trade secrets through former employees of Cutera it hired recently, according to documents reviewed by The Korea Herald. Aesthetic laser equipment maker Cutera -- listed on Nasdaq -- claimed that ...
Prosecutors on Jan. 6 raided the headquarters of Kolon Group, as part of their investigations into alleged fraud in the listing of an affiliate involved in the development of the group‘s controversial gene therapy drug, Invossa.Prosecutors and investigators from the Seoul Central District Pros...
South Korean drugmaker Daewoong Pharmaceutical said Dec. 19 it has won approval from authorities in the United Arab Emirates and Indonesia for the sale of its botulinum toxin product. The Ministry of Health in the UAE and Indonesia’s Badan Pengawas Obat dan Makanan accepted Daewoong Pharmaceu...
Celltrion announced on Dec. 9 that it has disclosed its biosimilar Truxima’s results of phase 3 clinical trial at the 2019 annual meeting of the American Society of Hematology last week.“The clinical trials were conducted among patients in European countries including Germany, Spain and ...
South Korea’s nonlife insurance firms saw their combined net profit drop 24.6 percent in the first nine months of 2019 from a year earlier, mainly due to increased losses stemming from their long-term insurance and auto insurance businesses, data showed Dec. 2. Nonlife insurance firms operati...
SK Chemical on Nov. 27 announced that its SID 710, a patch-type medication that aims to treat people with Alzheimer’s disease has won sales approval from the US Food and Drug Administration.The patch has been sold under the name Wondron Patch, a generic version of Novartis’ Exelon Patch ...
South Korean biopharmaceutical firm Celltrion said Nov. 26 that its drug Remsima SC for the treatment of autoimmune diseases has won sales approval in Europe. The European Medicines Agency has given the green light to Celltrion’s application to sell the subcutaneous version of Remsima, a bios...
South Korean drug firm SK Biopharmaceuticals is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Nov. 25. The company said that XCOPRI has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in adult...
South Korean biotech firm Bridge Biotherapeutics CEO Lee Jung-kyu announced Nov. 22 that the company plans to expand further after going public in December.The company expects to be listed on the second-tier Kosdaq market. “We hope to become a global biotech company by advancing both our ...
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