Go Han-seung, Chairman of the Bio Association, "Clinical outcomes will present meaningful milestones capable of expression beyond simple success or failure"

[Asia Economy Reporter Chunhee Lee] Koh Han-seung, chairman of the Korea Bio Association, expressed his intention to seek appropriate terminology that can clearly define statistical significance rather than simply describing clinical trial results in the bio industry as success or failure.

At an online press briefing held by the Bio Association on the 24th, Chairman Koh said, "Recently, the criteria for success or failure of clinical results have become important, but subjective expressions of success or failure cause misunderstandings. If given the opportunity, I will consider gathering opinions from member companies to communicate using the most appropriate terms."

He added, "For example, instead of saying a clinical trial succeeded or failed, using whether the primary endpoint achieved statistical significance can provide clear milestones to investors and shareholders."

Having been elected as the 7th chairman of the Bio Association on the 27th of last month and leading the association for the next two years, Chairman Koh stated, "For the domestic bio industry to develop, not only large corporations but also small and medium-sized enterprises and startups must become strong pillars." He expressed his ambition to promote exchanges among large corporations, SMEs, and startups to support the growth of small venture startups.

He emphasized that for the future development of the bio industry, the government needs to establish appropriate criteria for success in the pharmaceutical bio industry, along with policy support such as globalizing insurance drug prices and providing tax benefits for global clinical trial costs.

This content was produced with the assistance of AI translation services.