SK Bioscience’s acquisition of top 10 CDMO marks first major acquisition as part of its growth acceleration strategy and the biggest such investment so far by a Korean vaccines firm. Execs say deal is aligned with SK Group’s wider moves to 'rebalance' its businesses.

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.

Plus deals involving Abbisko/Merck & Co., Astellas/Phenomic AI, PRISM Biolab/Lilly and WuXi Biologics/Myricx.

Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.