CHA Biotech said on the 20th that it will nurture bio startups with the Yonsei University Bio Health Technology Holdings company. The plan is to bring bio startups together around Pangyo Second Techno Valley.
The two companies recently signed a memorandum of understanding (MOU) for this. The Yonsei University Bio Health Technology Holdings company will identify startups with growth potential based on the research outcomes and technologies held by Yonsei University and Yonsei University Health System.
CHA Biotech will discover bio corporations and provide an accelerating program tailored to each stage of growth. It will support technology commercialization and help build global partnerships by connecting with overseas innovation clusters.
CHA Biotech is building an integrated facility for cell and gene therapies in Pangyo Second Techno Valley. There, it will operate the K-Bio CIC Open Innovation Center starting in the second half of this year. Cha Won-tae, CEO of CHA Biotech, said, "The paradigm of new drug development is rapidly shifting to focus on open innovation from the earliest research stages."