Kolon faces crisis after its gene therapy Invossa has license canceled

주식 거래정지, 소송 등 인보사 사태 파장...코오롱 "조직,은폐 없다"Yeserday, the government revoked the license for a gene therapy treatment called Invossa, sending the stock price of the companies that developed and produced it plunging by the daily limit.Shares of the manufacturer, Kolon Life Science, are back on the market, but its subsidiary, which developed the treatment, is still suspended.Yoon Jung-min has the latest. The Korea Exchange said it will continue suspending trading for Kolon TissueGene until it finds it appropriate to consider listing the company again.On Tuesday, the trading for both Kolon TissueGene and Kolon Life Science was halted after the government canceled the license of their gene therapy drug Invossa for mislabeling a cell ingredient. Manufacturer Kolon Life Science even faces criminal charges after the investigation revealed the gene therapy treatment used kidney cells, not cartilage cells.Kolon Life Science resumed trading on Wednesday, but its stock price plunged by more than 20 percent in the first two hours of trading.Bio-industry pioneer Kolon is facing its worst crisis since it was founded 62 years ago. The government is considering taking back funding worth more than 6-point-8 million U.S. dollars,...which manufacturer Kolon Life Science has received since 2015.Some 3-thousand-700 people are reported to have used the drug,... and many fear whether the drug could cause them harm. 244 patients have filed a lawsuit worth more than 2-million U.S. dollars against Kolon Life Science."The pain in my legs didn't get any better before or after the medication. It's rather more uncomfortable because I have to see a doctor and get other treatment.Kolon Life Science, however, said they did not manipulate or cover up anything although there was some data lacking when the drug was under its approval review.The company added it will further analyze the cell ingredient and cooperate with the drug safety ministry.Yoon Jung-min, Arirang News.