Experts discussed regulatory science issues at a recent forum in South Korea, including the responsibilities of sponsors and regulators as well as the need to strengthen collaborations and accelerate the development of innovative drugs and converged medical products.

Notable new drug approvals in South Korea last year included Pfizer’s Tukysa, Genentech’s Columvi and BeiGene’s Tevimbra, but the tally did not include any domestically-originated products. Alzheimer’s disease therapy lecanemab may be on the horizon this year.

After the financing draught suffered by Korean bioventures in 2023, it now seems the VC market is poised for a recovery as investors shift attention again to the healthcare sector, with a spotlight on AI-based solutions and device firms.

South Korea is moving forward with plan to set up a Boston-type biotech cluster in Osong as part of a broader initiative unveiled by President Yoon, while the biopharma industry is calling for rapid process, exceptional support.

The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.

In collaboration with the national health ministry, J&J’s JLAB program is coming to South Korea as its third destination in Asia, underscoring the country’s increasing need to access multinationals’ know-how and its growing impact on the global biotech landscape and innovation.