Samsung BioLogics announced on March 20 that it has concluded a contract development organization (CDO) contract with Eutilex, a Korean biotech company, to develop cancer immunotherapies.The two companies expect to accelerate the development of new drugs through synergy between Samsung BioLogics'
Korea Health Industry Development Institute (KHIDI) and Chungcheongbuk-do (south Chungcheong Province) announced that they will hold the 14th Bio Korea 2019 in COEX, Seoul from April 17 to 19.It is Asia’s largest biotechnology convention, where pharmaceutical and biotechnology companies, hospitals,
The proposed regulatory reform in the Korean biotech sector is going nowhere due to hardline policy of related ministries, parliamentary inaction and opposition from civic groups. In particular, the Ministry of Health and Welfare maintains a tough certification standard with regard to direct to cust
The South Korean government will invest a total of 2.93 trillion won (US$2.60 billion) in the biotech sector this year, up 2.9 percent from a year ago. The Ministry of Science and ICT finalized the “2019 Biotechnology Promotion Plan” at a biotechnology policy council meeting held at Korea Bio Park i
The CJ Group announced on Dec. 18 that group chairman Lee Jay-hyun has recently held a global business strategy meeting in Los Angeles, California, and checked out the current state of its global business and medium- and long-term strategies.At the meeting, Lee pointed out the group’s sluggish globa
A second biotech startup boom is underway in Korea, according to a researcher of the Korea Research Institute of Bioscience and Biotechnology (KRIBB).Venture capital companies’ investments in biotech companies soared more than 85 percent this year from last year, and more than 300 biotech companies
Several member companies of the K-ICT Born2Global Centre were recently recognized in China for their marketability.Hylium Industries has received the highest score among the 17 Korean ICT companies participating in the pitching competition at K-Global@China 2018, which was held in Shenzhen this year
Boryung Pharmaceutical is stepping up efforts to develop both biologics and chemical drugs.According to the pharmaceutical and biotechnology industry on Nov. 20, Boryung Pharma is seeking to enter the biopharmaceuticals market by developing an immune cell therapy treatment through its subsidiary Vig
Samsung Bioepis and other biosimilar developers are on alert as the U.S. biotech company AbbVie has cut down the price of Humira in Europe by 80%.Humira, an autoimmune disease treatment, is the top-selling drug in the global market, with global sales reaching 20 trillion won (US$18 billion) last yea
Korean pharmaceutical and biotech companies have signed seven out-licensing contracts worth US$2.375 billion so far this year. This figure is nearly twice the figure of US$1.234 billion in eight deals. Industry analysts say that technology exports by Korean pharmaceutical and biotech industry are in
The Kolon Group is preparing for the era of group management by a fourth-generation member from its founder’s family.Recently, Kolon Global and real estate-sharing service company Libeto Inc. have decided to establish Libeto Pte. Ltd. in Singapore. Kolon Global will hold a 65.2% stake in Libeto Pte.
A string of new drug candidate materials and biobetters (new drugs for bio-pharmaceuticals) from Korean pharmaceutical and biotechnology companies have been granted orphan drug designation (ODD) by the U.S. Food and Drug Administration (FDA). Domestic pharmaceutical and biotech companies are expecte
Samsung Electronics announced on October 17 that it has acquired a 100% stake in Zhilabs, a company based in Barcelona that specializes in solutions for analysis of next-generation network traffic and service quality. This is the first time Samsung Electronics took over a network business-related co
Anti-cancer drugs developed in Korea are receiving love calls from global pharmaceutical and biotechnology companies.According to the pharmaceutical industry on October 9, overseas pharmaceutical companies are seeking cooperation with Korean companies to increase the effectiveness of their drugs by
National Day Message from Saudi Arabian AmbassadorBy Riyad A. Almubaraky, Ambassador of the Kingdom of Saudi Arabia to the Republic of KoreaThe twenty-third day of September 1932 was a glorious day in our history where the founding King Abdul Aziz bin Abdul Rahman Al Saud had unified the Kingdom of
SK Hynix Inc. is expected to see its operating profit account for more than 80 percent of the total of SK Group this year. As the group is becoming more and more dependent on the semiconductor business, it is getting more and more vulnerable as a whole. Market experts say that it is urgent for the g
Local venture companies are paying attention to the government’s plan to create an 8 trillion won (US$7.12billion) fund to invest in promising startups. In particular, the success of the fund is in fund managers’ hands as they will autonomously decide on which startups are to receive funding.Accordi
Korean biotechnology venture companies with technological power are gaining a lot of investment.The Korea Biotechnology Industry Organization (Korea BIO) announced on August 27 that ABL Bio attracted a total of 70 billion won (US$58 million) from 10 domestic venture capital companies in June, the bi
The governments of North Chungcheong Province and Cheongju City announced on August 21 that they have signed investment agreements with CuraChem, FoodyWorm, and Cosmetic Solution K that decided to build a research center and a production base in Osong Bio Valley.The signing ceremony was attended by
SK Telecom announced on Aug. 21 that it has signed a business agreement with Macrogen, a precision medical biotechnology company, to develop a genome analysis solution based on artificial intelligence (AI).Genomic analysis is to identify DNA mutations, sequence information, and disease information.