Scrip takes a look at major R&D trends in the Korean biotech sector in the third quarter, analysing new moves at Genexine, Bridge Biotherapeutics, Oscotec and others to cope with ongoing challenges and focus resources on the most promising projects.

Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic. 

Public Company Edition: The closure of Silicon Valley Bank sank biotech stocks in the first full week of March, but valuations rose the next week when two big acquisitions were announced. Also, J&J’s consumer health spinout sold $7.75bn in notes ahead of its future IPO and Karuna grossed $400m in a follow-on offering.

With just enough cash to stay afloat until the first quarter, Midatech is linking up with US-based, Canada-listed Bioasis to create a new rare disease player, Biodexa.