Daewon Pharmaceutical announced on the 16th that it has strengthened cooperation by signing a business agreement with two startups possessing core technologies discovered through the open innovation program with Seoul Bio Hub.
In June, Daewon Pharmaceutical conducted a selection process for support companies for a partner discovery and customized startup support program with Seoul Bio Hub, selecting two companies, AcuriBio and NParticle, which possess next-generation drug delivery technologies. AcuriBio has an engineered bacteriophage platform technology that responds only to specific disease tissues, while NParticle is developing a drug delivery system that precisely controls the size and shape of nanoparticles using microfluidic technology.
The two selected companies will be able to use the facilities and equipment at Seoul Bio Hub and receive various stages of customized support, including tailored growth programs based on systematic company diagnostics, commercialization support consulting, localization for global standards, and follow-up support. In addition, Daewon Pharmaceutical plans to jointly develop next-generation drug delivery technologies through its own open innovation program called the 'The Ham Program' while also exploring ways to commercialize and advance the startups' technologies. Furthermore, Daewon Pharmaceutical will support Seoul Bio Hub residency rights and rent, and together with the accelerator SD&K, provide opportunities for cooperation with global companies to assist the selected companies in expanding overseas.
Kim Ju-il, Vice President of R&D at Daewon Pharmaceutical, said, "We selected companies with outstanding technology and expected synergy aligned with the company's long-term strategy among the supported companies," adding, "We will help the growth and development of the selected companies by utilizing Daewon Pharmaceutical's tangible and intangible assets."
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