While the Invossa shock has damaged the credibility of Korea’s biotech industry, Korean biotechnology companies are redoubling efforts to find their way into the overseas market.Industry sources said on June 2 that a total of 37 Korean companies will participate in Bio USA 2019, the world's larg
A technology that can make ice at room temperature has been developed. This technology can maintain the taste and freshness of food products for a long time and enhance their marketability.The Korea Research Institute of Standards and Science (KRISS) announced on May 30 that a research team led by L
Korean biotechnology startups are seeking to enter the U.S. market, the largest biopharmaceutical market in the world.The Korea Trade-Investment Promotion Agency (KOTRA) said on May 26 that 12 Korean biotechnology companies will participate in the 2019 Bio International Convention, which is a large-
Precision medical biotechnology company Macrogen has been designated by the Ministry of Food and Drug Safety (MFDS) as a clinical trial specimen analysis institution, which performs specimen analysis of blood and urine collected from clinical test subjects.Macrogen can now perform next-generation se
Daewoong Pharmaceutical is conducting stem cell research. The company announced on May 26 that it presented the results of its stem cell therapy research for the first time at the third Spring forum for future medicine held at Seoul National University Hospital Biomedical Research Institute on May 1
The Ministry of Science and ICT announced on May 22 that it has launched a project to train graduate engineering students in Africa in cooperation with the World Bank. To this end, the ministry participated in the 5th PASET Forum of the World Bank and the PASET board of directors meeting in Kigali,
The Korean government plans to reduce by half the current one and a half years of time required for examination and approval of new biopharmaceutical products.The government will announce its innovation strategy to foster the biotech and healthcare sector this week. The plan will include a 2 trillio
China’s largest contract manufacturing organization (CMO) WuXi Biologics has virtually lost manufacturing of a new drug for the U.S. market to Samsung Biologics.According to Bloomberg and other foreign media outlets, Taiwan's TaiMed named Samsung Biologics, in addition to WuXi Biologics, as the
CJ CheilJedang Corp. aims to achieve 3 trillion won in sales this year in the bio business. The bio industry has emerged as the company's main business of CJ as it accomplished sales of 2.27 trillion won last year. The company plans to invest more than 80 billion won, the highest amount in the b
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.