Several biotechnology companies in South Korea have suffered major setbacks while pursuing first-in-class new technology businesses.

GenNBio, a company known for xenotransplantation of pancreatic islets, is currently facing the possibility of being dissolved. Due to management disputes, the departure of key R&D personnel, financial difficulties, and lack of market trust, the company is facing potential delisting.

About a year ago, GenNBio gained Korea's attention by obtaining approval for a groundbreaking clinical trial in which a pancreas from aseptic pigs would be transplanted into humans to cure type 1 diabetes, marking the first in South Korea. The research was led by Dr. Kim Sung-jo