Daewoong Pharmaceutical, Fostering Cell and Gene Therapy Industry with Local Communities

[Asia Economy Reporter Cho Hyun-ui] Daewoong Pharmaceutical announced on the 30th that it has signed a Memorandum of Understanding (MOU) with Gyeongsangnam-do, Gimhae City, and Inje University to foster the cell and gene industry.

This agreement aims to nurture the cell and gene therapy industry through a public-private-academic cooperation system.

Daewoong Pharmaceutical plans to discover startups in the cell and gene therapy sector in Gyeongnam, including Gimhae, and transfer expertise covering the entire process from biopharmaceutical development to clinical trials, approval, and sales. Additionally, it will operate programs to train and hire industry-tailored talent in the region.

Inje University will support clinical trials and joint research. Gimhae City and Gyeongsangnam-do will comprehensively support the industry’s development.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, stated, “We plan to systematically support startups in the cell and gene therapy field in Gyeongsangnam-do and Gimhae City,” adding, “Based on our know-how in the pharmaceutical and bio sectors, we will actively support local talent development and entrepreneurship.”