Ryvu has only about $7m in cash and equivalents but believes that a mixture of venture debt, milestones from partners and tapping the equity capital markets will provide the funds to advance RVU120 for acute myeloid leukemia and myelodysplastic syndrome.

VC Investment in South Korea’s biopharma sector drops again as investors continue to shy away amid higher interest rates and reduced out-licensing deals.

During Q3, biopharma merger and acquisition value reached $15.4bn and drew in $37.6bn in potential deal value from alliances. Device company M&A values reached $550m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.9bn.

A couple of trials for two investigational late-stage breast cancer candidates from AstraZeneca have each produced encouraging data for a novel drug class where rivals have previously hit clinical buffers.