SK Biopharmaceuticals said on the 2nd that it officially launched an open innovation program with the bio and medical startup platform Seoul Bio Hub and will seek to discover promising pharmaceutical and biotech startups.
The program targets corporations with innovative technologies and new modalities related to drug development, including central nervous system (CNS), oncology, artificial intelligence (AI), and aging (non-cosmetic fields). Pharmaceutical and biotech startups less than eight years old and prospective founders can apply.
Two corporations that pass screening and are finally selected will sign a separate agreement with SK Biopharmaceuticals. Selected corporations will receive technology proof-of-concept (PoC), joint research across the full cycle of global new drug development, and research and development (R&D) consulting. They will also receive infrastructure support such as residency rights at Seoul Bio Hub and rent assistance.
Kim Hyeon-woo, Director General of the Seoul Bio Hub Business Unit, said, "Through this program, startups will be able to access large pharmaceutical companies' new drug development experience and global networks."
Lee Dong-hoon, president of SK Biopharmaceuticals, said, "We plan to seek to strengthen competitiveness in new drug development through collaboration with promising domestic corporations."