Korea-Japan Bio Alliance Led by K-Ventures

The 2nd Korea-Japan Bio Ecosystem Roundtable Held in Tokyo
Minister Oh Young-joo Chairs Event to Strengthen Bio Venture Cooperation
Leading Pharmaceutical and Bio Companies from Both Countries Participate
Emphasis on Joint Technology Development and Division of Labor
MOU Signed to Foster Collaboration between Korean Bio Ventures and Japan’s Largest CRO

On the 20th, the Ministry of SMEs and Startups announced that it held the "2nd Korea-Japan Bio Ecosystem Roundtable" in Tokyo, Japan, chaired by Minister Oh Young-joo. This event was held as a follow-up measure to the "Plan to Create an Innovative Bio Venture Ecosystem" announced at the Ministerial Meeting on Strengthening Industrial Competitiveness on January 15, and was attended by leading pharmaceutical and bio companies representing Korea and Japan.

From the Korean side, six bio venture CEOs who have grown with the support of the Ministry of SMEs and Startups attended, including Park Hyun-sook, CEO of Sebio, which was designated as an orphan drug by the European Medicines Agency last month, and Kim Young-ho, CEO of Edgegene, which possesses unique gene-editing technology. From Japan, executives responsible for research and development and open innovation from Fujimoto Shonan iPark, and global big pharma companies such as Takeda Pharmaceutical Company, Astellas Pharma, Sumitomo Pharma, and Mitsubishi Tanabe Pharma joined the event.

Oh Young-joo, Minister of SMEs and Startups, is delivering a greeting at the "2nd Korea-Japan Bio Ecosystem Roundtable" held in Tokyo, Japan, on the 20th. Photo by the Ministry of SMEs and Startups

The participants shared the cooperation achievements since the "1st Korea-Japan Bio Ecosystem Roundtable" held in May last year. They noted that new drug development requires a long process involving numerous experiments and verifications, but the possibility of failure is very high, so division of labor and collaboration are important to increase the chances of success and reduce trial and error. They especially emphasized that joint technology development based on division of labor is crucial to achieve cooperative results in advanced fields such as cell therapy, gene therapy, and tumor microenvironment.

Minister Oh said, “The pharmaceutical and bio industries are global industries that transcend national borders, and close cooperation in the future-oriented advanced bio sector will be a valuable asset for the future generations of both countries.” He added, “To strengthen global leadership in the pharmaceutical and bio fields between Korea and Japan, we will spare no support for corporate exchanges and cooperation, joint research and development, and the establishment of joint funds to diversify and deepen bio cooperation.”

Meanwhile, on the morning of the same day, Minister Oh met with Keiko Oishi, Chairperson of CMIC, Japan’s largest CRO (Contract Research Organization), to discuss ways to build a partnership combining Korea’s bio ventures’ innovative ideas with CMIC’s advanced clinical trial capabilities. On this day, a Memorandum of Understanding (MOU) was also signed between the Small and Medium Business Corporation and CMIC for cooperation in the bio field.

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