Pharmaceutical Bio Association Hosts 'Open Innovation Plaza' to Promote Technology Transactions

A platform for technology transactions on key candidate substances such as antibody-drug conjugates (ADC), targeted protein degradation (TPD), chimeric antigen receptor (CAR)-T cell therapies, and autoimmune therapeutics?trends gaining attention in next-generation drug development?will be held.

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 7th that it will host the ‘2023 Open Innovation Plaza’ at the Grand InterContinental Parnas Hotel in Gangnam-gu, Seoul, on the 14th.

This event, organized to activate technology transactions among domestic pharmaceutical and bio companies, plans to have participation from numerous pharmaceutical and bio firms. Starting with the keynote speech by Professor No Tae-woo of Hanyang University’s International Studies Department titled ‘The Need for Open Innovation in K-Bio Companies and Securing Global Competitiveness,’ domestic pharmaceutical companies will sequentially share open innovation cases, including ▲Junseok Park, Head of Daewoong Pharmaceutical Center (36th New Drug Enblo, a successful open innovation case among domestic pharmaceutical companies) ▲Youngjun Ko, Executive Director of GI Innovation (New drug development and strategic collaboration cases using GI Innovation platform technology) ▲Kyungjin Kim, CEO of ST Pharm (Beyond Open Innovation: Co-prosperity and Sharing).

In particular, the Korea Pharmaceutical and Bio-Pharma Manufacturers Association plans to present ‘The 2023 Advancement Results and Utilization Plans of the K-Space Platform.’ K-Space, a cooperative platform to accelerate new drug development, allows uploading and browsing of pipelines and platform technologies, and provides an online technology transaction venue utilizing corporate technology videos including IR, and real-time statistics. Over 2,100 pipelines are scheduled to be uploaded on the 14th.

True to the name Open Innovation Plaza, a one-on-one technology partnering matching program will also be conducted as it was last year. Last year, 48 partnering deals were concluded through this program.

This year, active partnering discussions are expected around 38 candidate substances from 25 companies, including ▲GC Green Cross’s gene-based new TPD platform fusing single domain antibodies and E3 ligase fragments ▲APIT Bio’s CD171-targeting solid tumor ADC therapeutic ‘APB-H101’ ▲BCchem’s RIPK1 inhibitor ‘BSC-1300’ as an autoimmune disease therapeutic ▲Abclon’s protein CD19-targeting blood cancer CAR-T cell therapy candidate ‘AT-101.’

Side events include ▲Pharmaceutical and Bio Industry Technology Transaction Strategy Seminar ▲Artificial Intelligence (AI) New Drug Development Technology Briefing ▲Academia Innovation Technology Briefing, introducing theory and cases of technology transactions to pharmaceutical and bio workers. A technology commercialization and investment promotion contest, as well as poster exhibitions featuring technology and corporate IR, will also be held to promote technology commercialization and investment attraction for domestic companies.

Applications and detailed information for the 2023 Open Innovation Plaza can be found in the notices section on the Korea Pharmaceutical and Bio-Pharma Manufacturers Association website.

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