Seoul Biohub announced that it signed a business agreement with Celltrion for ‘Global Open Innovation.’
The main goal of this agreement is for Seoul Bio Hub and Celltrion to discover overseas biomedical companies with innovative technologies and support their successful entry into the Korean market through open innovation-based technological cooperation.
The two organizations will provide various opportunities for technological advancement and domestic market entry to the selected overseas companies. Celltrion plans to monitor the research performance of the selected companies through its new drug research and development (R&D) department and systematically provide customized R&D mentoring on global research trends and research strategies. Seoul Bio Hub will provide office space and shared laboratories to activate the domestic business of the selected overseas companies, while also providing investment opportunities in connection with domestic and international accelerators (AC) and venture capitals (VC), and supporting business networks such as universities and hospitals to help them achieve rapid domestic success.
The selection of overseas companies will be given priority to companies that can create synergy with Celltrion’s business and research areas, and the main areas include ▲new antibody-based treatment technology ▲small molecule technology ▲drug delivery system (DDS) ▲new therapeutic approaches (modalities). Celltrion and Seoul Biohub plan to discover 10 promising companies this year through the first screening and select the final two companies next year.
In order to successfully operate this project, Seoul Bio Hub plans to select a specialized implementing agency to promote the program overseas and discover startups with high potential for research collaboration with Celltrion.
Kim Hyun-woo, head of the Seoul Bio Hub Business Group, said, “The collaboration with Celltrion will greatly contribute to Seoul Bio Hub’s advancement into an important base for the global bio startup ecosystem,” and added, “We will do our best to support this global open innovation so that it can become the first case of attracting excellent overseas startups to Korea.”
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