SK Biopharmaceuticals said on the 8th that it opened SK Life Science LinX, an open-innovation hub to support promising domestic pharmaceutical and biotech corporations entering the U.S. market, within its subsidiary SK Life Science in New Jersey.
LinX spans a total of 160 pyeong and includes a shared workspace, 10 private offices, and conference rooms. SK Biopharmaceuticals plans to grow the space into a platform for consolidating Asia's research and development (R&D) capabilities with the North American market. The "X" in "LinX" stands for exchange, expansion, and exploration.
At the opening ceremony held on the 5th (local time), SK Biopharmaceuticals President Lee Dong-hoon and about 100 figures from government and business circles in Korea and the United States attended. At the event, SK Biopharmaceuticals, the Korea Trade-Investment Promotion Agency (KOTRA), and the Korean-American Society in Biotech and Pharmaceuticals (KASBP) New Jersey–New York chapter also signed a three-party memorandum of understanding (MOU).
At LinX, KOTRA will run the "K-Bio Global Innovation LinX" program. Station C, operated by the Korea Health Industry Development Institute (KHIDI) and Hallym University, has confirmed participation, and resident corporations will receive support for local settlement, legal and patent advisory services, and investor connections. The KASBP New Jersey–New York chapter plans to support academic events and networking programs.
SK Biopharmaceuticals also plans to begin recruiting resident corporations this month from domestic biotechs and startups that hope to enter the United States.
SK Biopharmaceuticals President Lee Dong-hoon said, "SK Life Science LinX is more than a simple shared office; it is a hub that supports the global growth of domestic bio corporations," adding, "We will expand open innovation with domestic biotechs to build a sustainable ecosystem that creates tangible results together in the global market."