Bioventure founders repeatedly resign and reappoint, industry is concerned - South Korea

There are notable cases of founders of venture companies founded in the early days of the biotechnology industry handing over management rights without producing results in new drug development.
An example of this is Kim Sung-young, former vice chairman of HYERI Kusmith. Kim former vice chairman has been a gene for over 20 years
He has been involved in the development of the therapeutic drug "Engensis" (VM202). However, in September 2019, Phase III of Engesis for diabetic peripheral neuropathy (DPN) was announced.
Failed the floor test. The clinical trial design was redesigned and Phase II and III clinical trials were conducted, but these also ended in failure. Vice Chairman Kim Former's future has not been determined, but he will step down from management and take a leave of absence.
It is expected that he will enter the holiday period. It has been pointed out that these moves have many similarities with former chairman Son Young-chul, founder of Genexine, a bio venture founded in its early days. Both professors
Although he became the founder of the company, he has not been able to achieve any significant results in developing new drugs, and has repeatedly resigned and returned as CEO. A person involved in the biotechnology industry said, ``It is better to draw from the line in difficult times.''
It's not a bad thing. It is not bad in itself for the founder to step down as the company president and switch to a management system run by management experts, but repeating this will cause confusion in the market and cast doubt on the sustainability of the company.
"It's an act of defamation."