Yuhan Corporation announced on the 30th that it held the "1st Yuhan Innovation Program (YIP) Networking Day" event at the Dragon City Hotel in Yongsan-gu, Seoul on the 26th.
On the 26th, participants are taking a commemorative photo at the '1st Yuhan Innovation Program (YIP) Networking Day' event held at Dragon City Hotel in Yongsan-gu, Seoul. [Photo by Yuhan Corporation]
Since last year, Yuhan Corporation has been operating YIP, an open innovation program specialized in basic research for innovative new drug development. It supports validation research for creative and innovative ideas from basic science researchers affiliated with domestic universities and public research institutes, and based on the research results, Yuhan secures future innovative new drug research and development (R&D) technologies and collaborates on follow-up research.
Yuhan Corporation is considered one of the leading companies actively engaging in open innovation. In fact, after acquiring the technology for the non-small cell lung cancer treatment drug "Reclaza" (generic name: Lazertinib) from Oscotec, it successfully licensed the technology to Janssen (a subsidiary of Johnson & Johnson), achieving significant results. This year, the results of the Phase 3 clinical trial "MARIPOSA," a combination therapy with Janssen's bispecific antibody "Librivant" (Amivantamab), are expected to be released. It is one of the key pipelines that Janssen anticipates will generate annual sales exceeding $5 billion (approximately 6.65 trillion KRW).
The 1st YIP Networking Day event was organized to facilitate information exchange and collaboration discussions on innovative new drug R&D between researchers selected for YIP last year and Yuhan researchers. About 90 people, including Yuhan CEO Joo Wook-je, R&D President Kim Yeol-hong, R&D executives and researchers, and YIP researchers, attended. The event featured presentations of YIP project research results and discussions on follow-up research directions. A separate poster session provided a relaxed atmosphere for researchers to exchange information and network.
CEO Joo Wook-je said, "I hope that through the YIP program, active exchanges between basic researchers at universities and public research institutes and Yuhan Corporation will take place, and together we can create an ecosystem where basic researchers and industry closely cooperate. I also expect that good research results will serve as a foundation for the development of related researchers and Yuhan Corporation."
Yuhan Corporation expects the YIP program to be a cornerstone for securing core technologies for future innovative new drug development and to contribute to the advancement of Korea’s basic science in new drug development through increased private investment in basic research.
Following the 1st session, Yuhan Corporation plans to accept applications for the 2nd YIP from the 19th to the 30th of next month.
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