Bio Association and Novartis Open Call for Participants in the 'Open Innovation Challenge'

Recruitment Open Until the 16th of This Month

The Korea Bio Association announced on the 6th that it is recruiting domestic bio companies interested in open collaboration with the global healthcare company Novartis.

Recruitment of Participating Companies for Korea Bio Association Open Innovation Challenge.
[Image provided by Korea Bio Association]

This 'Open Innovation Challenge' was planned as part of the 'Global Mingle' program, supported by the Ministry of Trade, Industry and Energy, to discover collaboration opportunities and support the establishment of global networks for domestic bio companies to expand overseas. So far, it has been conducted with about 10 global bio companies, and this is the third time it is being held with Novartis since 2022.

Companies selected for this challenge will be given opportunities for one-on-one presentations with Novartis, networking, and reviews by global companies. Companies wishing to participate can apply via email by referring to the notice on the Korea Bio Association website by the 16th.

Juri Hwang, Head of Exchange and Cooperation Division at the Korea Bio Association, said, "Recently, it is no exaggeration to say that the survival of companies depends on meaningful technology exports and technology cooperation deals in the market. I believe that the industry can develop by creating a virtuous ecosystem where multinational pharmaceutical companies with deep know-how in new drug development and capital strength collaborate with startups possessing innovative technology. I am pleased to contribute to an innovative technology cooperation ecosystem that transcends borders."

Wonpil Kim, Executive Director of the Innovation Business Division at Korea Novartis, said, "Novartis continues efforts to discover domestic new drug developments and candidate substances that can lead to innovations addressing unmet patient needs. We hope that this collaboration with the Korea Bio Association will become a platform for creating shared value by introducing Korea’s excellent new drug candidates to Novartis’ global headquarters."

Meanwhile, the association plans to expand activities that connect networks and business opportunities necessary for the global expansion of promising domestic bio companies, in addition to the Open Innovation Challenge.

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