Yonsei University Gangnam Severance Hospital announced on the 10th that it has signed a joint research memorandum of understanding (MOU) with the Weizmann Institute of Science in Israel and is embarking on a challenge in the international medical market.
On the 6th (local time), Ziv Lisi, Vice President of the Weizmann Institute of Science in Israel (left), and Song Young-gu, Director of Gangnam Severance Hospital, signed a business agreement at the Weizmann Institute of Science. [Photo by Gangnam Severance Hospital]
This agreement was established to create a synergy effect by combining the world-class basic science technology possessed by the Weizmann Institute of Science with the clinical and preclinical research capabilities of Gangnam Severance Hospital. Gangnam Severance Hospital plans to integrate its accumulated preclinical and clinical data, tissue samples, and research capabilities with the Weizmann Institute’s basic science competitiveness. The Weizmann Institute will expand its commercialization capabilities based on basic medical science.
In particular, this collaboration between expert groups in basic science, medical, and clinical fields from Korea and Israel is meaningful in that it aims to build a research foundation for the long-term development of new drugs and novel therapeutic mechanisms in the bio sector. The Weizmann Institute is considered one of the world’s top three basic science research institutes. Since its establishment in 1934, it has produced one Nobel Prize laureate and three Turing Award winners. It focuses intensively on basic science fields such as biology, chemistry, biochemistry, mathematics, and physics, and about 25% of the approximately 70 patents filed annually are transferred as technology licenses, achieving world-class results in the commercialization of basic science.
The latest achievements from the Weizmann Institute are delivered to leading global companies and utilized for the advancement of human health through Yeda, a technology transfer company established in 1959. This agreement was made in connection with Yozma Group Korea, which is responsible for technology transfer and commercialization in Korea for Yeda. Yozma Group Korea is discovering strategic investment business models that connect the medical innovation capabilities of Israel and the Republic of Korea, and it expects this agreement to serve as a good model.
Song Young-gu, director of Gangnam Severance Hospital, said, "I am very pleased to be able to enhance our clinical research capabilities through collaboration with a world-class basic science research institute," and added, "I hope that the combined strengths of both institutions will produce excellent synergy effects." Ziv Reich, vice president of the Weizmann Institute, stated, "For the well-being and advancement of humanity, both institutions will work together to achieve progress in scientific research and knowledge transfer," and "This agreement will establish a foundation that can contribute to the future of humanity by utilizing the expertise of both institutions."
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