Korean biotech, pharma firms’ license deals top $500m in H1

[THE INVESTOR] Licensing deals struck by South Korean biotech and pharmaceutical firms surpassed the US$500 million mark in the first half of the year, according to industry sources on June 23.

A total of six biotech and pharmaceutical firms including industry heavyweight Chong Kun Dang Pharmaceutical clinched a total of seven out-licensing deals with foreign companies in the January-June period, with the value of the six deals estimated at $525 million.

The amount, however, was smaller than the previous year’s figure. During the same period of last year, local biotech and pharmaceutical firms’ out-licensing agreements reached $880 million.

Among the deals, CrystalGenomics bagged the largest $330 million out-licensing deal in the first half of the year.

Local biotech and pharmaceutical firms have been reporting large-scale out-licensing deals since last year.

In 2015, Hanmi Pharmaceutical clinched six out-licensing deals and collaboration projects worth a combined 7.6 trillion won ($6.59 billion).

The South Korean company has bagged a series of deals on licensing its pipeline products and collaborative research and development on early treatments for lung cancer and diabetes.

(theinvestor@heraldcorp.com)