MEDIPOST(078160) said on the 2nd that it has hired Min Ho-seong, a former executive vice president at Samsung Biologics and an expert in biopharmaceutical research and development (R&D) and contract development and manufacturing (CDMO), as president. After an extraordinary shareholders meeting and board approval, Min will be officially appointed as CEO, establishing a co-CEO system with the current CEO, Oh Won-il.
Min is an expert in global bio R&D, business development (BD), and CDMO. Min received a bachelor's degree in molecular biology from UC Berkeley and a Ph.D. in molecular biology from the University of California, Los Angeles (UCLA).
Min began as a researcher at Amgen in the United States and served as a principal researcher at the Samsung Advanced Institute of Technology and as senior vice president overseeing DS (drug substance) at Samsung Bioepis. Min later served as CEO of GenScript ProBio, a global biotechnology company, and as head of the CDMO Development Center (executive vice president) at Samsung Biologics. Min has more than 20 years of experience in biopharmaceutical research and development, including cell and gene therapy (CGT), and in the CDMO business.
MEDIPOST plans to strengthen expertise by business segment and speed up decision-making through the co-CEO system.
CEO Oh Won-il will oversee Korea operations, including Cartistem, the GMP (good manufacturing practice) center, cord blood, health functional foods, and the SCT division. Min will oversee the global business division, the U.S. and Japan subsidiaries, and OmniaBio, a CDMO affiliate.
Min will also take charge of global clinical operations and overseas business development and commercialization strategies for North America, Europe, China, and other regions.
After being appointed CEO, Min is also expected to serve as chair of the board. MEDIPOST said it aims to strengthen strategic linkage between top management and the board and to establish a board-centered responsible management system with a mid- to long-term global growth strategy.
MEDIPOST plans to use this hire as a springboard to accelerate the global market entry of Cartistem, its key pipeline, a stem cell therapy for knee osteoarthritis.
In Japan, Cartistem met both primary and secondary endpoints in phase 3 and is now preparing a biologics license application (BLA). In the United States, it received approval for a single clinical trial that can reduce development costs by about 20%–30% from previous levels and shorten the clinical period by 3–6 months. Patient dosing has since begun.
Min is expected to refine the commercialization strategy following entry into the Japan and North American markets while leading a mid- to long-term global strategy to expand into Europe, China, and other regions.
A MEDIPOST official said, "The hiring of President Min Ho-seong, who has extensive experience with global pharmaceutical companies and in the CDMO field, will be an important turning point for MEDIPOST to leap forward as a global biotech company," adding, "Through the co-CEO system, we will build a swift and efficient management environment and maximize the global value of key pipelines such as Cartistem."
Min said, "I am honored to join MEDIPOST as co-CEO, a company with proven technological capabilities and clinical results," adding, "We will achieve key milestones without setbacks, including the Japan BLA filing and the U.S. clinical trial, and accelerate commercialization in global markets—not only North America and Japan but also Europe and China—by combining global business development with OmniaBio's capabilities."