The Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) said it would actively promote Korean pharmaceutical firms’ exchanges with Europe through “Global Open Innovation,” a government program to offer a global platform for Korean companies.
KPBMA plans to hold an online conference with MedCity, a life sciences cluster in the U.K., for advanced therapy medicinal products (ATMP) in August.
London City, the Higher Education Funding Council for England, and three universities in London, including Imperial College Academic Health Science Centre, established MedCity in 2014. The cluster promotes the U.K. biotech industry’s research, commercialization, entrepreneurship and investment, and their synergy effects.
Over 10 clinical research institutions in the U.K. are conducting over 120 advanced biopharmaceutical drugs, according to KPBMA. Private and public investment and networks between industries and academics occur actively in the U.K., the association said.
|The Korea Pharmaceutical and Bio-Pharma Manufacturers Association seeks to promote Korean pharmaceutical firms’ exchanges with Europe. (KPBMA)|
KPBMA said it would invite MedCity’s scholars, business officials, and investors to the online seminar with Korean companies and support collaborations between British and Korean companies.
KPMBA also plans to participate in Bio Europe 2020, the largest biotechnology partnering conference in the region, in October through online, and prepare Korea Session separately.
During the online event on Oct. 26-28 amid the Covid-19 pandemic, KPBMA aims to promote the Korean pharma industry’s competitiveness and emerging pipelines.
“For domestic drug companies to overcome limited resources and keep growing, they should get into the global biotech market directly and maximize collaboration with multinational firms, researchers, universities, and bio ventures,” KPBMA Chairman Won Hee-mok said. The association will do its best to work with overseas institutions and organizations to help local companies make a foray into the global market.
KPBMA and 14 Korean biotech firms formed a consortium to join the Massachusetts Institute of Technology’s Industrial Liaison Program (ILP) on June 12, to promote cooperation with U.S. companies.
On Thursday, KPMBA celebrated 10 Korean drugmakers’ settlement in the Cambridge Innovation Center’s shared office under the KPMBA name and formed an advisory group of local experts.
The six experts in the advisory group are Korean American Society in Biotech and Pharmaceuticals (KASBP) President Stephen Suh, BW Biomed LLC CEO Woo Jung-hoon, Nelson Mullins Partner Kim Kong-sik, Havard Medical School Massachusetts General Hospital MD Park Jong-chul, Solasta Ventures CEO Derek Yoon, and KCRN Research CEO Lee Hyung-joo.
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