AstraZeneca Korea adn Korea Health Industryโข Growth Institute Partner toโ Boostโค Biotech Global Expansion
Here’s a summary of the key takeaways from the provided text:
Keyโค Partnership: AstraZeneca Korea and the Korea Health Industry Development Instituteโฃ (KHIDI) โขhave signed a Memorandum of โUnderstanding (MOU) to foster collaboration and open innovation within the Korean pharmaceutical and biotech industry.
Focus: Global Expansion โfor Koreanโค Biotech: The core goal is to help Korean biotech companies expand internationally and secure global partnerships. Thisโ is achieved through AstraZeneca’s “NOVA Project” open innovationโ program.
How it Works:
* Technology โคScouting: AstraZeneca korea will identify and present innovative โtechnologies and assets from Korean biotech companies to AstraZeneca Global.
* Dual Track Approach:
* Regular โฃRecruitment: Companies apply throughโค Bosanjin, receive initial evaluation โand feedback from AstraZeneca within a month.
* VC Linkage: AstraZeneca reviews portfolio companies of leading โKorean Ventureโฃ Capital firms.
* Bosanjin’s Role: Bosanjin will manage project notifications, company sourcing, and stakeholder connections.they will also โขfacilitate a consultativeโ body with VCs to share company recommendations.
* Feedback & Opportunities: The โคprogram aims โto provideโ feedback to over 20 Korean companies annually and create opportunities for global cooperation.
benefits for Koreanโฃ Biotech Companies:
* โ Access to AstraZeneca Global: Direct pathway to present technologies to a major global pharmaceutical company.
* International Standards: Feedback fromโ AstraZeneca’s โคglobal team will help companies refine their offerings to meet โขinternational โstandards.
* Global Partnerships: Increased opportunities for actual global partnerships โand overseas expansion.
* Specific Insights: Companies will โreceive tailored data about AstraZeneca’s areasโฃ of interest.
AstraZeneca’s Commitment: AstraZeneca Korea will actively seek partnerships, particularly in โขemerging fields โlike AI-drivenโ bio healthcare, and work โwith the Korean government to facilitate these collaborations.
Quotes:
* Ahn Ji-young (AstraZeneca โKorea): The agreement is a “stepping stone” โขfor Korean biotech companies to enterโ the global market.
* Kim Yong-woo (KHIDI): The agreement will provide opportunities for Korean โขbiotech โcompanies to translate their potential into practical โglobal partnerships.
In essence, this partnership aims to bridge the gap between the โinnovative potential of Korean biotech and the global reach and resources of AstraZeneca, ultimately driving growth and collaboration within the industry.