Celltrion Launches Open Innovation OT to Support Bio Startups

Celltrion announced on the 30th that it held an orientation for bio startup companies selected through the 'Seoul Bio Hub-Celltrion Open Innovation Program' at the Global Biotechnology Research Center located at its headquarters in Songdo, Incheon.

Kwon Ki-seong, Head of Research and Development at Celltrion (Senior Vice President, third from the left), Park Seo-young, Director of Advanced Industries at Seoul City, and Kim Hyun-woo, Director of Seoul Bio Hub, are taking a commemorative photo with the selected bio startup representatives at the orientation event of the Open Innovation Program held on the 30th at the Global Biotechnology Research Center in Songdo, Incheon.
[Photo by Celltrion]

The Seoul Bio Hub-Celltrion Open Innovation Program is a nurturing and support project targeting bio and medical startup companies that possess innovative technologies related to Celltrion's new business and research technology demands. In October last year, as part of its open innovation strategy, Celltrion signed a memorandum of understanding (MOU) with Seoul Bio Hub to foster promising bio startups.

This time, after evaluations by a judging panel including external technology evaluators, four bio startups?Medimap Bio, Atheon Bio, Enterobiome, and S&K Therapeutics?were selected. Each company operates businesses in Celltrion's research areas such as antibody-based immuno-oncology, microbiome, and small molecule compounds.

The orientation was attended by key stakeholders including representatives from Celltrion, Seoul Bio Hub, the Seoul Metropolitan Government, Must Accelerator?a specialized accelerator company?and the CEOs of the four selected bio startups. During the event, a tripartite agreement among Celltrion, Seoul Bio Hub, and the startups was signed, along with a non-disclosure agreement (NDA).

Celltrion plans to support the selected companies by providing residency rights and rental fee assistance at Seoul Bio Hub to help with their initial settlement. Subsequently, leveraging its accumulated know-how and network, Celltrion will offer customized startup nurturing programs and provide global programs for overseas expansion by connecting with global bio clusters and networking opportunities.

Kwon Ki-sung, Head of Research and Development at Celltrion (Senior Vice President), stated, “As a leading bio anchor company in Korea, Celltrion will spare no effort in providing systematic support to promising bio startups selected through fierce competition to help them grow. We will actively share the know-how and networks accumulated from starting as a startup and growing into a major bio corporation with the selected companies to seek sustainable co-growth in the bio industry.”

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