The Gyeonggi Economic Science Promotion Agency collaborates with Dong-gu Biopharmaceutical to support technology demonstration and commercialization of bio and healthcare startups. The key is to open up clinical trial know-how and global networks of pharmaceutical companies accumulated over 50 years to early-stage start-ups.
Kyungwa and Donggu Biopharmaceutical announced on the 3rd that they have signed a business agreement with this content. Director Kim Hyun-gon and Chairman of Dong-gu Biopharmaceutical Yung Joon shared that the role of public institutions and specialized companies is becoming more important as the bio startup ecosystem expands rapidly, and discussed in detail various collaboration models including infrastructure openness and technical advice.
Under the agreement, they agreed to cooperate in the joint discovery of promising startups, technical demonstration and clinical trial cooperation, expert mentoring, and global market entry support. Donggu Biopharmaceutical supports technology verification and commercialization based on its expertise in pharmaceutical manufacturing, and Kyungguwon plans to provide funding and consulting through Gyeonggi Startup Innovation Space and Gyeonggi Bio Center.
Bio startups are struggling with high costs and lack of specialized infrastructure during clinical trials and commercialization stages after technology development. Through this agreement, Kyungkwwon plans to increase the success rate of commercialization by establishing a channel for early companies to access manufacturing and clinical infrastructure and operating customized support programs for each stage of corporate growth.
Kim Hyun-gon, Director of Kyung-gwa, said, “Through this agreement, we have laid the foundation for bio startups in Tokyo to take a leap forward in technology demonstration and commercialization,” and “We will continue to support the growth of the Gyeonggi-do bio industry ecosystem by strengthening cooperation with private companies.”
