The K-Bio Deal Summit 2026, held under the theme “K-Bio: Solutions for Global Success Through Innovation,” was organized to examine the success strategies of companies leading the global market and to share insights on the growth direction of the domestic biotech industry and investment opportunities.
Shin Hae-in, Executive Vice President of SK BIOPHARMACEUTICALS, made this statement during a presentation titled “K-Bio: Solutions for Global Success Through Innovation” at the “Edaily K-Bio Deal Summit 2026,” held on the 9th at Harmony Hall in KG Tower, Jung-gu, Seoul.
Vice President Shin introduced the global commercialization cases of “Xcopri” (active ingredient: cenobamate), an epilepsy treatment, and “Sunosi” (active ingredient: solriamfetol), a sleep disorder treatment, both developed in-house by SK BIOPHARMACEUTICALS(326030), and shared the company’s experience utilizing a NewCo in this process.
Vice President Shin explained that approaches to global expansion can be categorized into five models: general technology export; joint research and supply; risk and profit sharing; long-term partnerships; and Newco. Among these, the Newco model involves establishing a separate company with investors to focus on the development and commercialization of a specific new drug candidate.
He emphasized, “We didn’t decide on these five models from the outset; they were the result of careful consideration and business strategy,” adding, “While a NewCo involves risks, it allows us to maintain control over our assets, which can serve as the foundation for great success.”
SK BIOPHARMACEUTICALS established Abel Therapeutics to enter the European market and Ignis Therapeutics to enter the Chinese market. Vice President Shin explained, “When entering Europe, our primary objective was to maintain governance control and oversight over our assets to ensure the smooth operation of our U.S. business,” adding, “In China, we needed local investors and professional management who understood the rapidly changing policy and market environments.”
However, he pointed out, “While a new company (Newco) has a high degree of concentration on specific assets, leading to faster development, the repercussions are also significant if even one project fails.” He added, “We must carefully evaluate the capabilities of the new management team and consider that the company’s control may be diluted the more we utilize various investment structures, such as equity stakes or warrants.”
In particular, he advised, “Biotech companies need to understand and approach the investment market from an investor’s perspective,” adding, “Investors, too, should not merely provide capital and wait; they must leverage their networks and experience to help biotech companies grow. This can serve as a solution in an era where smooth communication between the two sides is challenging.”
