Local gene therapy biotech firm Helixmith will announce the results of Engensis’ second phase 3 clinical trials for diabetic peripheral neuropathy next month, officials said Tuesday. “We were hoping to announce the results of Engensis’ second phase 3 clinical trials today, but the (independent Data Monitoring Committee) has requested additional data,” said Kim Sun-young, CEO of Helixmith, in a press conference. According to the CEO, the requested documents included En

Technology June 28, 2022

The South Korean government will invest 24.7 trillion won ($19.2 billion) into the country’s research and development efforts in 2023, a 1.7 percent increase on year, the Ministry of Science and ICT said Tuesday. According to the ministry, the R&D budget is focused on the three pillars of strengthening strategic investment for developing core technologies, working towards carbon neutrality and achieving digital transformation. The ministry said it plans to invest a total of 1.1 tri

Technology June 28, 2022

South Korea’s drug regulators are looking to announce the final approval of the country‘s first homegrown COVID-19 vaccine before the end of this week, officials said Monday. According to the Ministry of Food and Drug Safety, the Central Pharmaceutical Affairs Council concluded that SK Bioscience’s request for the approval of SKYCovione‘s biologics license application could be granted in a meeting on the previous day. A total of 23 outside experts and regulatory authori

Technology June 27, 2022

South Korea is inching closer to approving its first homegrown vaccine with expectations that the government’s official announcement could come as early as next week. According to pharmaceutical industry sources Friday, the Ministry of Food and Drug Safety has been considering the review process for SK Bioscience’s COVID-19 vaccine candidate GBP510 since the company submitted a request for the approval of its biologics license application under the name “SKYCovione” in

Social Affairs June 24, 2022

South Korean researchers have found a new cause behind the memory impairment in Alzheimer’s disease, the Institute for Basic Science said Thursday. The researchers at IBS and Korea Institute for Science and Technology have pinpointed a process, the urea cycle, that takes place in astrocytes, which are star-shaped cells that take up over half of all brain cells. An activated urea cycle aggravated the memory loss in patients with Alzheimer’s disease, according to their study publishe

Technology June 23, 2022

Nuri rocket's performance test satellite launched into the Earth’s 700-kilometer orbit has successfully made its first two-way communication with the ground control center, completing the final steps of the launch mission, the Ministry of Science and ICT said Wednesday. According to the ministry, the satellite that was sent into space on the Nuri rocket yesterday made two-way communication with the Korea Aerospace Research Institute’s ground control center in Daejeon at around 3 a.m

Technology June 22, 2022

South Korea’s homegrown rocket Nuri is ready for blastoff on Tuesday, with hopes to deliver a complete and successful launch this time to officially signal the country’s entrance into the global space race. The Korea Aerospace Research Institute said Monday that Nuri, also known as the Korea Space Launch Vehicle-II, has been erected on the launch pad at Naro Space Center in the southern coastal village of Goheung, South Jeolla Province. “Starting around 11 or 11:30 a.m. tom

Technology June 20, 2022

South Korea’s Fair Trade Commission is looking to impose sanctions against AstraZeneca over allegations that the global pharmaceutical firm colluded with a local firm to hinder the launch of cheaper generic drugs. The FTC has recently sent out an audit report to the two drug makers, according to industry sources on Monday. The audit report, which is considered as a prosecutor’s indictment, contained the regulator’s opinion that AstraZeneca provided financial benefits to Alvoge

Social Affairs June 20, 2022

SAN DIEGO -- Over 250 Korean companies participated in this year’s BIO International Convention, the world’s largest biotechnology industry gathering that took place in person for the first time in three years. Except in the cases of big companies such as Celltrion and Samsung Biologics, most of the small biotech companies were scrapping to present their pipelines and technologies to the global market in hopes that investors and global big pharmaceutical companies will take notice.

Technology June 19, 2022

KT and Hanmi Pharmaceutical have jointly invested in digital therapeutics developer Digital Pharm, officials said Sunday. With the investment, KT will be in charge of developing platforms for digital therapeutics, drafting business strategies and providing pipelines. Meanwhile, Hanmi plans to maximize synergetic impact through hospital-specialized marketing and supporting the authorization of digital medical devices. Digital Pharm’s first projects are in digital therapeutics and electro

Technology June 19, 2022

SAN DIEGO -- Samsung Biologics, the world’s largest contract development and manufacturing organization by production capacity, will join the global RE100 renewable energy initiative as early as next month, a source familiar with the matter said Wednesday.  Led by the Climate Group in partnership with CDP, formerly known as Carbon Disclosure Project, the RE100 initiative commits members to using 100 percent renewable electricity.  Among the 372 members of the RE100 as of Wednes

Industry June 16, 2022

SAN DIEGO -- Lotte Group, South Korea’s fifth-largest conglomerate, will look to bolster its recently launched bio sector by scaling down the current four main business areas -- chemicals, food, hotels and retail -- and possibly putting one of them up for sale. “Our goal is to grow our bio and health interests into a portfolio that matches our four main portfolios,” Lee Hun-ki, Lotte Holdings’ executive vice president, said in a press meeting near the BIO International

Industry June 15, 2022

SAN DIEGO -- Samsung Biologics CEO John Rim said Monday the US states of California, North Carolina, Washington and Texas are the strongest candidates the South Korean contract manufacturing organization is considering for its first overseas production facility. Pointing out that some of the US’ major bio clusters are located in those four states, the CEO added that the CMO giant has not made any decisions and is still reviewing options. “We are certainly expanding. The Plant 4 wi

Technology June 14, 2022

SAN DIEGO -- South Korea became one of the countries with the largest number of companies taking part in this year’s BIO International Convention, showing how Asia’s fourth-largest economy has become a rising player in the global biotechnology industry. According to a biotech industry official participating in the convention in San Diego, over 3,200 companies from across the globe signed up to attend the event. Of them, 255 are from South Korea. That is the second largest for a cou

Industry June 14, 2022

SAN DIEGO -- Samsung Biologics is showcasing its top-tier production capacities at the world’s largest biopharmaceutical exhibition, the South Korean company said Monday. Taking part in the BIO International Convention for the 10th consecutive year, Samsung Biologics has set up a sizable 140-square-meter booth to represent its world-leading production capacity as one of the largest contract and manufacturing organization businesses across the globe. According to Samsung Biologics, the

Industry June 13, 2022