Based on promising Phase II data, two companies in South Korea are moving ahead with late-stage development in the gout space, with JW Pharmaceutical getting approvals to begin a multinational Phase III trial for epaminurad, while LG Chem has recently submitted an application for a Phase III program with its contender tigulixostat.

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.

Falling foreign investment and increasing business uncertainties in China could present new opportunities for the Korean biopharma sector, which is stepping up globalization and R&D efforts to seek growth.

While keeping its policy focus mainly on controlling the pandemic situation, South Korea is also increasing R&D grants to support the development of innovative drugs with global blockbuster potential through the launch of renewed and better funded Korea Drug Development Fund.