Licensing deals by Korean biotech and pharmaceutical firms surpassed the $500 million mark in the first half of the year, but the amount was smaller than the previous year's figure, industry sources said Thursday.
According to the sources, six biotech and pharmaceutical firms clinched a total of seven out-licensing deals with foreign companies in the January-June period, with the value of the six deals estimated at $525 million.
Chong Kun Dang Pharmaceutical did not reveal the value of its out-licensing deal.
During the same period of last year, local biotech and pharmaceutical firms' out-licensing agreements reached $880 million, the sources said.
Among the deals, CrystalGenomics bagged the largest $330 million out-licensing deal in the first half of the year.
Local biotech and pharmaceutical firms have been reporting large-scale out-licensing deals since last year.
Last year, Hanmi Pharmaceutical clinched six out-licensing deals and collaboration projects worth a combined 7.6 trillion won ($6.59 billion).
The South Korean company has bagged a series of deals on licensing its pipeline products and collaborative research and development on early treatments for lung cancer and diabetes. (Yonhap)