À̹ÌÁö È®´ë Korean healthcare companies anticipate another bumper year in out-licensing agreements, having already achieved more than 5 trillion won ($4.4 billion) in the first half, or half of last year¡¯s best record.
According to Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) on Sunday, the local pharmaceutical and biotech industry won a total of eight license deals in the first six months this year. The combined confirmed value is 4.81 trillion won and it would exceed 5 trillion won if undisclosed deal values of LG Chem and Nibec are included.
In the first half alone, there were two mega-billion license deals. In January, GC LabCell¡¯s USA affiliate Artiva Biotherapeutics won a whooping 2.09 trillion won with MSD over its cell therapy technology. The three companies agreed to develop three cell therapies for solid tumor treatment in partnership.
Genexine won a 1.2 trillion won licensing deal with Indonesia-based KG Bio in February. Under their agreement, KG Bio will conduct a Phase 2 clinical trial of GX-I7 to treat Covid-19 and cancer in Indonesia.
À̹ÌÁö È®´ë Among mid-sized pharmaceutical companies, Daewoong Pharmaceutical won two separate license deals over its gastroesophageal reflux disease drug Fexuprazan in the first half. The first one was a 380 billion won deal signed with China¡¯s Shanghai Haini in March, and second a 480 billion won deal with Neurogastrx in the United States.
Other achievements include ImmuneOncia¡¯s 540 billion won deal to license out its oncology drug IMC-002 to China¡¯s 3D Medicines in March. Alteogen inked a 126.6 billion won deal with India¡¯s Intas Pharmaceutical over human hyaluronidase in January.
The local industry expects successful license deals to continue throughout the second half. Promising candidates include Samsung Pharm¡¯s pancreatic cancer drug Riavax Inj. whose Phase 3 study results were released recently. Vaccine developer Cellid¡¯s investigational cervical cancer drug (BVAC-C) emerges as another candidate for out-licensing after positive Phase 2 study data.
The Korean healthcare industry has continued growth in license agreements over the past three years. The total value amounted to 5.37 trillion won in 2018, 8.51 trillion won in 2019 and a record 10.14 trillion won in 2020.
By Kim Si-gyun and Minu Kim
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]