Newmed Strives to Create High Added Value Through Industry-Academia Collaboration

[Asia Economy Reporter Hyungsoo Park] Industry-academia collaboration is gaining momentum in the domestic bio and healthcare sectors.

Natural product R&D company NewMed recently received technology transfer from Kyung Hee University Industry-Academic Cooperation Foundation for broiler chicken and Geumaengja extract, and filed a domestic patent. They secured core technology in the field of prostate health improvement. NewMed, currently conducting human application trials, plans to submit research data to the Ministry of Food and Drug Safety to apply for individually recognized raw materials.

Founded in 2003, NewMed has conducted a total of 19 joint industry-academia research projects, including six technology transfer contracts with Kyung Hee University. They are developing over 10 functional raw materials, including ingredients for prostate health improvement. These were derived through their independently established food and drug research platform, iMED. NewMed has received individual recognition from the Ministry of Food and Drug Safety for four functional raw materials, including complexes such as Astragalus extract (for children's height growth).

As consumer interest in health grows, companies are investing in building proprietary platforms and developing functional materials to create effective new drugs and health functional foods.

An industry insider explained, "It is becoming increasingly difficult to predict external environments," adding, "Companies are reducing potential risks by conducting joint R&D with universities at stages where pipeline value is prominent."

He continued, "This can be developed into a business model that creates high added value," and said, "Companies and universities are expanding investments to build rich research infrastructure as complementary partners and are creating a virtuous cycle structure for revenue generation."

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