Genaxis announced that it has concluded its Boston Bio Cluster global licensing-out program, the Genaxis Global Acceleration Program (GGAP).
This program is one of the 'Seoul Bio Hub 2024 Global Expansion Growth Acceleration Programs', and is a business that includes local partnering support for licensing out to Boston, USA. It supports excellent bio, pharmaceutical, medical device, and digital healthcare startups located in Seoul with less than 10 years of experience. This program aims to strengthen the capabilities of startups to advance globally, attract overseas investment, and enter the market, as well as licensing out, and support partnering. It is hosted by Seoul Bio Hub, an 'innovation platform for bio and medical startups'.
Zenaxis, which was selected as an implementing agency in the licensing-out field, operated a domestic program consisting of global capacity building education and global licensing-out expert consulting from November of last year to March of this year, together with VSPharmtech, which develops a new radiosensitizer drug that enhances the anticancer effect when used in combination with radiation therapy, JD Bioscience, a company developing new drugs for metabolic diseases (such as MASH) based on small molecule compounds, and QGenetics, which develops synthetic new drugs for metabolic diseases such as osteoporosis and obesity. Through a local program held in Boston, USA, it supported the verification of the companies' licensing-out strategies and partnering with local partners.
In particular, with pharmaceutical company backgrounds and current BD (Business Development) managers directly participating in the program as experts, in-depth corporate and technology analyses were conducted to establish licensing-out strategies for participating companies, including Market Positioning, Meeting Deck, Partnering List, and Deal Term Formulation. In addition, consulting reports were provided for the successful licensing-out of individual companies, providing opportunities to establish and improve licensing-out strategies from the licensee’s perspective and a long-term perspective.
In addition, through a local program in Boston, USA, a global bio mecca, we provided opportunities for partnering with 11 pharmaceutical companies and investment firms and pre- and post-face-to-face partnering with 3 global pharmaceutical companies. We also supported seminars to strengthen the capabilities of participating companies, such as pitching strategies, avoidance of legal risks and regulations, and clinical design.
In order to provide continuous global partnering opportunities for participating companies after the business ends, we provided contact information for approximately 50 companies with which to partner and provided access to global conferences.
“In the midst of an economic downturn and a cold investment climate, companies need various survival strategies, and licensing out in particular is a realistic means to secure self-reliance, so systematic preparation and strategy establishment that can secure negotiation power are important tasks,” said Son Mi-kyung, CEO of Zenaxis. “As the results of this program showed a high level of satisfaction, I hope that through continuous advancement of this program and planning of new ideas, the licensing out capabilities of participating companies will be strengthened, and various networks will be built to help conclude actual contracts in the future.”
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