Korea-Japan Bio Cooperation Expands to Joint Entry into Global Market

18 Korean and Japanese Bioventure Companies Hold Joint IR in Boston

Korean and Japanese bio-venture companies are jointly entering the global market.

On the 4th (local time), the Ministry of SMEs and Startups announced that it held the "Korea-Japan Bio-Venture Joint Investor Relations (IR) Event" at Le Meridien Boston Cambridge in Boston, USA.

This event, which involved four domestic bio-venture companies, was organized as a follow-up to the "Korea-Japan Bio Ecosystem Roundtable" held on May 10 under the chairmanship of Minister Oh Young-joo, aiming to promote the global market entry of bio-ventures from both Korea and Japan.

Among the participants were 22 global venture capital (VC) and corporate venture capital (CVC) firms, including the U.S. bio-specialized investment firm Flagship Pioneering, known for creating Moderna and one of the world's top three VCs, and EQT from Sweden, one of the world's top three private equity firms, seeking one-on-one business cooperation with bio-ventures from both countries.

The Korean bio-ventures participating in the event included Upsell, which develops induced pluripotent stem cell-based therapeutics; YouthBio Global, a company specializing in cell culture media development; Recode, which researches and develops stem cell therapeutics; and CellBio, also engaged in stem cell therapeutic research and development.

The domestic companies participating in the IR are actively promoting joint projects with Japanese pharmaceutical companies, universities, and hospitals by establishing a presence in Shonan iPark, Japan, through the Chungbuk Global Innovation Special Zone.

At a seminar held in the afternoon at nearby Takeda Pharmaceutical, attended by bio VCs and global major pharmaceutical companies (Big Pharma), pitching sessions by Korean and Japanese bio-venture companies were held, along with discussions on the development of the Asian bio-ecosystem and investment environment.

Yoon Seok-bae, Director of the Special Zone Policy Division at the Ministry of SMEs and Startups, stated, "Cooperation between Korea, where the bio-venture ecosystem is active, and Japan, which has many pharmaceutical companies experienced in new drug development, is effective for global market entry," adding, "We will continue efforts to find various support measures so that bio companies from both Korea and Japan can strengthen cooperation within the global value chain."