Strengthening Bio Business
Samyang Biopharm announced on July 23 that it is planning to establish an overseas subsidiary in Boston next month to strengthen its bio business.
The US subsidiary will develop and introduce candidate biomaterials and related technologies at an early stage based on the networking with global companies and research institutes to speed up the development of new drugs.
The company said it was for this purpose that it chose Boston, the world's largest biotechnology hub, as the venue to open the new subsidiary. Around Kendall Square where the American subsidiary will be built, research facilities are flocked including the Massachusetts Institute of Technology (MIT) and multinational pharmaceutical companies such as Novartis, Pfizer, Biogen, and Takeda.
Samyang Biopharm is a subsidiary of Samyang Group's pharmaceutical and bio business. It is researching and developing new drugs that use drug delivery systems (DDS), anticancer biomedicine, and medical devices made of biodegradable materials.