AstraZeneca BioVentureHub to Achieve 'Win-Win' with SMEs through Knowledge Sharing

"Big Pharma and Bio Ventures Coexist...
Building Trust Is the Top Priority"

"The most distinctive feature is that although multiple companies are part of the same platform, they do not compete with each other. We focus on new technologies, but pursue a system where everyone can achieve a win-win outcome together."

Magnes Jorson, CEO of AstraZeneca BioVentureHub, made these remarks at the 'Bio Korea 2025' press conference held at COEX in Gangnam-gu, Seoul on May 7, 2025.

Magnes Jorson, CEO of AstraZeneca BioVentureHub, is explaining about BioVentureHub at the 'Bio Korea 2025' press conference held at COEX in Gangnam-gu, Seoul on the 7th. Photo by Choi Taewon

AstraZeneca BioVentureHub is an open innovation platform operated by AstraZeneca, a UK-based multinational pharmaceutical company. The platform is designed to help small and medium-sized pharmaceutical and biotech companies develop early-stage drug candidates within the ecosystem established by AstraZeneca, and to support them in operating their businesses.

The open innovation platform was created to solve one of the main challenges faced by small and medium-sized enterprises: a lack of resources. Jorson explained, "AstraZeneca BioVentureHub is a new business model that enables collaboration with small companies. Large pharmaceutical companies like AstraZeneca share their foundational frameworks with smaller companies and help them take the next step forward."

Jun Sehwan, CEO of AstraZeneca Korea, also said, "Small and medium-sized companies often have good concepts and ideas, but many do not know what to do next. To commercialize a new drug, having just a concept and knowledge is not enough?you need to know what to prepare next, and if you lack the capacity to see it through to the end, you need to know who to sell it to."

However, there is a condition for small and medium-sized companies wishing to join the platform: they must disclose their ideas. Jun explained, "We share our knowledge and data, but they must also be able to disclose their ideas. We have to share and collaborate with each other, and work together to improve."

Jorson emphasized, "Since these small and medium-sized companies have placed their trust in us by joining, building trust has been our top priority." He added, "Currently, more than 100 partnerships have been established within BioVentureHub. When these companies first joined our platform, we never imagined that we would grow to form so many partnerships."

AstraZeneca is also interested in expanding collaboration with Korean pharmaceutical companies through BioVentureHub. Jorson said, "We are already collaborating with Korean pharmaceutical companies and hope to work with even more. We are a company that seeks out innovation wherever it may be. There are many promising startups in Korea, and we hope that by expanding collaboration, we can build various partnerships. Just last week, we signed an LOI (Letter of Intent for business cooperation) with a Korean company, and we are very excited about this development."