SK Biopharm Establishes Open Innovation Hub in the U.S.

"We will solidify a sustainable ecosystem by organically combining innovative technologies and resources through diverse open innovation with promising domestic biotech companies."
 
SK Biopharm opened its 'SK Life Science LinX' hub within its subsidiary in New Jersey on June 5, where CEO Lee Dong-hoon expressed the company's commitment to strengthening collaboration with biotech firms. He described LinX as "a base for co-growth that will drive the growth of promising Korean biotech companies on the global stage, going beyond just a shared office space."

According to SK Biopharm, LinX serves as an open innovation hub in the U.S., covering a total area of 160 pyeong (approximately 5,300 square feet), which includes 120 pyeong of shared space, 10 private offices, and meeting rooms. The facility aims to provide infrastructure optimized for local business, supporting domestic companies in entering the U.S. market and securing local networks.

LinX will connect research and development capabilities from Asia with experiences from advanced markets like North America.

During the opening ceremony, a tripartite memorandum of understanding (MOU) was signed between SK Biopharm, KOTRA, and KASBP New Jersey and New York Chapter. As part of this agreement, the 'K-Bio Global Innovation LinX' program, led by KOTRA, will be operated at LinX.

SK Biopharm plans to establish a co-prosperity platform that assists domestic biotech companies in global commercialization and network expansion, based on its local hub and public-private collaboration programs.

Additionally, the company will begin recruiting resident companies this month, targeting domestic biotech firms and startups looking to enter the U.S. market.

Meanwhile, SK Biopharm reported strong first-quarter results driven by the growth of its epilepsy treatment drug, Cenobamate, which is currently sold in the U.S. For the first quarter, the company recorded sales of 227.9 billion won and an operating profit of 89.8 billion won, marking increases of 58% and 250%, respectively, compared to the same period last year. Notably, U.S. sales of Cenobamate rose by 48.4% to reach 197.7 billion won.