Korea Health Industry Development Institute President Soon-Do Cha talks to Scrip how the government agency’s support strategy to the domestic biopharma industry may be changing in line with the industry’s increased globalization move and how he views the country’s policy stance should improve going forward to meet its goal of becoming a strong biohealth nation.

Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.

Emerging companies including Bliss Biopharmaceutical, Coherent Biopharma and WestGene Biopharma lifted China biotech funding from May to mid-June.

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.