Pohang Bio Startups Join Forces with Daewoong Pharmaceutical to Launch Open Innovation

Establishing a Virtuous Cycle of Shared Growth
Connecting R&D, Technology Commercialization, and Corporate Support

Pohang City has officially launched the "2025 Regional Enterprise-Linked Bio Industry Open Innovation Project" with the goal of establishing a collaborative foundation between local bio companies and large corporations.

Pohang City signed a Memorandum of Understanding (MOU) on the 8th to promote Pohang Bio Open Innovation with Pohang Technopark, Daewoong Pharmaceutical, POSTECH Membrane Protein Research Center, and Pohang Bio Industry Association. Provided by Pohang City From left: Kim Seongyoung, President of Pohang Bio Association; Bae Youngho, Director of Pohang Technopark; Son Taekyung, Head of Planning and Coordination at Daewoong Pharmaceutical; Jang Sanggil, Vice Mayor of Pohang City; Lee Jio, Director of POSTECH Biotechnology Research Center.

On the 8th, the city signed a Memorandum of Understanding (MOU) to promote Pohang Bio Open Innovation in partnership with Pohang Technopark, Daewoong Pharmaceutical, POSTECH Membrane Protein Research Center, and Pohang Bio Industry Association.

This project involves Pohang-based bio startups that have been selected through a rigorous screening process. Based on the technology needs of Daewoong Pharmaceutical, the project will promote joint research projects, prototype production, proof of concept (PoC), and commercialization cooperation.

The city also plans to establish a virtuous cycle of shared growth, connecting research and development, technology commercialization, and corporate support. This aims to accelerate the development and commercialization of innovative technologies and foster a sustainable open innovation industrial ecosystem.

In particular, this year the project will identify collaborative tasks in the pharmaceutical and biotechnology sectors, including radiopharmaceuticals, new drugs for brain diseases, and pet healthcare. As a result, the potential for local companies to commercialize their technologies and enter new markets is expected to increase significantly.

Pohang City will establish a close matching system between participating companies and the relevant departments at Daewoong Pharmaceutical to enhance the effectiveness of collaboration. At the same time, the city plans to actively support the development of long-term partnerships, including technology demonstration, product advancement, and R&D-linked support.

At the end of this year, the city will also host an IR (Investor Relations) roadshow and a results presentation to showcase the technological capabilities and achievements of participating companies. In addition, opportunities will be provided for investment connections with Daewoong Investment and major investors.

Vice Mayor Jang Sanggil stated, "This project is a rare opportunity for local bio companies to engage in practical joint research with a global pharmaceutical company," adding, "Based on an ecosystem of collaboration among industry, academia, research, and government, we will further strengthen Pohang's position as a leading city in the bio industry."

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