Samsung Biologics Joins Support for K-Bio Industry

Samsung Biologics has taken steps to support mutual growth for the development of the domestic bio industry. They organized a seminar to explore directions together, promising continuous support and investment.

On the 16th, Samsung Biologics announced that it held a seminar on the 15th at the Chosun Palace in Gangnam-gu, Seoul, aimed at mutual growth of the domestic bio industry. About 60 stakeholders attended, including 31 domestic biotechs such as G.I. Innovation and Legochem Bio, which are contract development (CDO) clients of Samsung Biologics, as well as venture capital firms and the Korea BioPharmaceutical Association. CDO is a comprehensive term for services such as cell line development for mass production, production process design, and formulation development to efficiently store and deliver pharmaceuticals.

This event provided various programs for the advancement of the K-bio industry, including sharing strategic partnership cases between Samsung Biologics and domestic biotechs, and the role of funds for the growth of the domestic bio industry and biotechs.

John Rim, CEO of Samsung Biologics, introduced the current business status and future technology investment plans under the theme "The Future of K-Bio Together." Rim said, "For 13 years, we have grown together with the Korean bio industry by nurturing bio-specialized personnel and localizing raw and subsidiary materials," adding, "We will secure sustainable growth momentum for K-bio by expanding organic cooperation models along with future technology investments." He also promised continuous investment for acquiring new technologies and growth of K-bio through the 170 billion KRW 'Life Science Fund' established with Samsung C&T and Samsung Bioepis, and the open innovation center to be set up at the 2nd Bio Campus.

Lee Byung-geon, CEO of G.I. Innovation, presented on the theme "The Power of Successful Partnerships and Collaboration," emphasizing the importance of collaboration within the domestic bio industry and sharing successful partnership cases. G.I. Innovation has been cooperating on multiple projects with Samsung Biologics’ CDO projects, obtaining clinical trial approvals from the Korea Ministry of Food and Drug Safety and the U.S. Food and Drug Administration (FDA).

The CDO division of Samsung Biologics introduced CDO services optimized for biotechs and the CDO platforms launched last year, 'S-Chojient' and 'S-Glynn.' Presentations also followed from Park Jung-tae, Vice Chairman of the BioPharmaceutical Association, on "Trends and Future of the Korean Bio Industry," and Kang Ji-soo, Executive Director of BNH Investment, on "Supporters for Biotech Growth."

CEO Lee Byung-geon said, "I consider it meaningful to attend this seminar during a period when the domestic bio industry is contracting post-endemic," adding, "It is very important to consider cooperation methods among domestic companies." CEO John Rim also said, "I am pleased to discuss ways to advance K-bio and share various insights," and expressed hope that "this will continue to be a platform for exchanging ideas on the future development of K-bio."