Samsung Bioepis has selected two companies to participate in its open innovation program in collaboration with Seoul Biohub. The selected companies will enter into agreements to support the commercialization of next-generation biotechnologies.
On July 22, Samsung Bioepis held a signing ceremony with the two participating companies at its headquarters in Songdo, Incheon. Attendees included representatives from Samsung Bioepis, the Seoul city government, Seoul Biohub, and the participating companies, who engaged in welcoming remarks, introductions of the companies and the program, and the signing of agreements.
The open innovation program began recruiting promising domestic biotech firms in May. The final selections, Fraser Therapeutics and BionSite, possess innovative technologies. Fraser Therapeutics specializes in targeted protein degradation (TPD) technology that selectively removes disease-causing proteins, while BionSite is developing drug target discovery technology based on mass spectrometry and artificial intelligence (AI).
This program, operated by Seoul Biohub and Samsung Bioepis, aims to expand collaboration opportunities between domestic biotech startups and global biotech companies, enhancing the commercialization potential of next-generation biotechnologies.
To support the growth of the selected companies, Samsung Bioepis will provide advanced technology development, mentoring, and commercialization consulting. After the program concludes, a final evaluation will determine the feasibility of practical collaborations, including joint research, technology transfer, co-commercialization, and strategic investments.
The company plans to accelerate the discovery of domestic biotech startups that can connect with its antibody and peptide-based therapeutic technologies and AI drug development platforms.
Kim Kyung-ah, CEO of Samsung Bioepis, stated, "This program enables the discovery and early acquisition of next-generation biotechnologies. We will strive to expand collaboration opportunities with promising biotech firms and contribute to the continuous growth of the domestic biotech ecosystem."
* This article has been translated by AI.
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