Samsung Epis Holdings(0126Z0) subsidiary Samsung Bioepis said on the 22nd that it selected two corporations to join an open innovation program it runs with the Seoul Bio Hub.
The program was set up to expand collaboration between domestic bio startups and global bio corporations and to raise the commercialization potential of next-generation bio technologies. Samsung Bioepis has recruited participating corporations since May and finalized Prazer Therapeutics and BionSite.
Prazer Therapeutics is a corporation that owns a next-generation targeted protein degradation (TPD) platform technology. The technology selectively removes disease-causing proteins by using the intracellular degradation system, and it is drawing attention as a next-generation drug development platform that can aim at targets that have been difficult to tackle with existing treatments.
BionSite is a corporation developing an artificial intelligence (AI)-based chemoproteomics platform. Using data-independent acquisition mass spectrometry (DIA-MS) and AI, it analyzes interactions between drugs and intracellular proteins and has technology applied to discovering new drug targets and predicting the efficacy and safety of candidate substances.
Samsung Bioepis plans to provide tailored support to the selected corporations, including technology advancement, mentoring, and commercialization consulting. After the program ends, it also plans to review follow-up cooperation such as joint research, technology transfer, joint commercialization, and strategic investment.
Kim Kyung-ah, head of Samsung Bioepis, said, "Through this program, we have been able to discover and secure next-generation bio technologies at an early stage," and added, "We will keep expanding cooperation with promising biotechs to contribute to the sustained growth of the domestic bio ecosystem."
Meanwhile, Samsung Bioepis is expanding its open innovation activities. In April, it signed a memorandum of understanding (MOU) with the ATLATL Innovation Center, a Chinese biotech incubation organization, and since June it has also been recruiting corporations to join a local open innovation program. The company noted that it is widening the scope of cooperation at home and abroad to secure next-generation bio technologies early.