Listed Korean bioventures are increasingly opting for rights offerings in a high interest rate environment, while unlisted firms are turning more to smaller-scale VC financings.

GI Innovation chairman and CEO B G Rhee talks about his ambitions for the Korean bispecific protein firm’s leading allergy and immuno-oncology pipeline assets and what is behind his confidence.

While Chinese bioventures continue to surge ahead in immuno-oncology R&D, NeoImmuneTech says its long-acting human IL-7 in combination with pembrolizumab shows Phase IIa clinical efficacy in gastrointestinal tumors. Another Korean firm, GI Innovation, says its bispecific fusion protein/pembrolizumab combo shows synergistic effects in solid tumors at Phase I/II.

An analysis of the Korea Drug Development Fund’s selection of projects for R&D grants so far this year shows more applications and particular support for domestic cell and gene therapy projects, reflecting the strong interest in this area globally.