Jinhungwon and Amgen Hold 'Pitching & Bio Day' Together

The Korea Health Industry Development Institute (KHIDI) announced on the 13th that it will begin recruiting participating companies for the open innovation program "2023 KHIDI-Amgen Pitching and Bio Day," which will be held over two days from September 14 to 15. Applications can be submitted through the official website until the 21st of next month.

The 2023 KHIDI-Amgen Pitching Day is a program designed to discover domestic pharmaceutical and bio companies with innovative technologies and capabilities in Amgen's areas of interest, such as cancer, inflammatory and autoimmune diseases, and cardiovascular metabolic diseases. It offers opportunities for research and development (R&D) mentorship with Amgen, a global leader in biotechnology, as well as prize awards.

Any domestic pharmaceutical and bio company possessing innovative technologies that align with Amgen's interests can participate in the pitching day. Detailed eligibility criteria can be found in the official announcement.

Amgen will select eight companies through document screening to participate in the pitching session. The selected companies will present and engage in discussion sessions at the pitching day event held on the 15th of next month. The final winners will receive a total prize of 80 million KRW, with 30 million KRW for first place and 25 million KRW each for second and third places. Additionally, the first and second place companies will be granted a one-year mentorship opportunity with Amgen’s global business development (BD) and R&D departments.

Meanwhile, during the networking sessions held alongside the pitching, Amgen’s R&D team will conduct one-on-one meetings with domestic pharmaceutical and bio companies to engage in practical discussions on innovative technology partnership deals. This is expected to provide opportunities for joint R&D and collaboration with Amgen. Amgen plans to select five companies through document screening for this as well. Any domestic pharmaceutical and bio company holding innovative technologies in Amgen’s areas of interest and wishing to collaborate with Amgen can apply.

Additionally, at Bio Day, where the latest trends and research achievements of Amgen’s global R&D are shared, key members from Amgen’s global R&D and BD departments will share the latest insights in their specialized fields. The R&D department will present on the use of next-generation tools for designing excellent biopharmaceuticals, next-generation cancer treatment strategies, and bispecific T-cell engager (BiTE) technology for cancer therapy. The BD department will present on Amgen’s key business development focus areas.

Kim Yong-woo, Head of the Pharmaceutical and Bio Industry Division at KHIDI’s Industrial Promotion Headquarters, said, "We are pleased to provide opportunities this year as well to discover promising domestic companies to collaborate with Amgen. Based on the open innovation collaboration between KHIDI and Amgen, we will continue to offer various support programs that enable domestic companies to cooperate with multinational corporations like Amgen and take a leap toward becoming global companies."

Kim Soo-ah, Executive Director of Medical Affairs at Amgen Korea, stated, "Following the '2023 KHIDI-Amgen Pitching and Bio Day,' Amgen plans to diversify and expand the program through ongoing collaboration with KHIDI. We hope that Amgen’s growth model, established as a global biotechnology leader through life science-based R&D, will serve as a valuable guide for domestic pharmaceutical and bio companies striving to develop innovative new drugs."

Meanwhile, KHIDI and Amgen are expected to continue their collaboration by providing opportunities such as introducing Amgen’s open innovation strategy and facilitating technology partnering between domestic pharmaceutical and bio companies and Amgen’s global BD leadership in November.

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