Riding on the new drug-developing zeal among pharmaceutical and biotech companies, CROs (contract research organizations) are attracting attention. A case in point is Dream CIS, which has been moving briskly in recent years.

Founded in 2000, Dream CIS was acquired by Hangzhou Tigermed Consulting, the No. 1 CRO in China, in 2015. It has since been part of the Tigermed Group, expanding its influence domestically and globally.

Dream CIS met with domestic and foreign pharmaceutical companies in May by organizing an RWE (Real-World Evidence) Symposium with big data platform developer Evidnet. It also participated in the Bio International Convention 2023 (BIO 2023), a pharmaceutical and bio-industry exhibition held in Boston, Mass., earlier this month alongside Tigermed.

During the BIO 2023, Dream CIS produced some concrete results, including signing a memorandum of understanding with Korean biotech company Autotelic Bio for strategic investment and cooperation in global new drug development.

On the last day of BIO 2023, Korea Biomedical Review caught up with Dream CIS Executive Director Kang Sung-shik, a cardiothoracic surgeon and former head of the medical department of Pfizer Korea, to learn more about the blueprint that Tigermed and Dream CIS are drawing.

Question: We are curious why Dream CIS participated in BIO 2023.

Answer: To develop new drugs, biopharma companies need, aside from clinical trials, IND (Investigational New Drug) application submission and communication with regulatory agencies. Dream CIS provides a total solution that supports new drug development from A to Z, including the preclinical and clinical phases. During this event, we introduced our CRO capabilities.

Tigermed, which set up an independent booth, has recently made many efforts to expand beyond China and become a global CRO. For example, it established Tigermed USA three years ago and is opening branches in Asia, Europe, and other regions or integrating local CROs into the group.

As part of the group's global expansion, Dream CIS will work with Tigermed USA to help Korean biotech companies enter the U.S. market. Many Korean biotech companies have taken root in Boston, and we will also work with them.

Q: What were the reactions from Korean and foreign companies and other visitors?

A: Many visitors found it refreshing that we support U.S. clinical trials. I know that not many Korean CROs support clinical trials in the U.S. Dream CIS will play a leading role in helping Korean biotech companies enter the U.S. market.

Q: Thanks to an increase in clinical trials during Covid-19, the growth of CROs has been remarkable. What is the competitive advantage of Dream CIS compared to other CROs?

A: Although we are categorized as a foreign CRO, we are strictly Korea-based and understand domestic biotech companies and the industry better than foreign CROs. We are also more cost-competitive.

Compared to Korean CROs, we can’t help but mention our parent company, Tigermed. We can fully utilize the resources of the Tigermed Group in expanding overseas. While most Korean CROs need time to set up branches and subsidiaries to support overseas clinical trials, Dream CIS can get started far faster.

Q: At BIO 2023, you signed an MOU with Autotelic Bio. What are the two companies’ cooperation plans from now on?

A: Discussions had been going on between our two companies before signing the MOU during the event. As Autotelic Bio seeks to advance its pipeline clinical trials in the U.S., Dream CIS, and Tigermed USA will provide support.

Q: Does that mean you don't support global trials outside the US?

A: No. The Tigermed Group will support all clinical trials in the U.S., Europe, and China, and Dream CIS will work with Tigermed to collaborate on overseas clinical development.

In the case of the Chinese market, Korea’s traditional drugmakers show more interest than biopharma companies. I can't disclose names, but two of the top five pharmaceutical companies in Korea are working with us to develop the Chinese market.

Q: Tell us what other events you will attend this year besides this one.

A: In the year's first half, we participated in major events, such as BIO Europe and BIO. In the second half-year, we attended the European Society for Medical Oncology (ESMO 2023) in Madrid in October. Oncology conferences are particularly interesting because about half of the world's drug development pipelines are anticancer drugs. Tigermed also participated in the American Society of Clinical Oncology (ASCO 2023) earlier this month.

Q: In May, you held a symposium on RWD with Avidnet. There was a lot of enthusiasm at the event. Do you plan to hold related events in the future?

A: Although nothing has been finalized yet, we are positively considering holding events related to RWD and PV (pharmacovigilance). The response to the symposium was enthusiastic, and we want to share information about RWD with domestic companies.

While big global pharma has internalized all the capabilities for RWD, Korean pharma and biotech companies often do not, therefore, there is talk of holding an event to share Dream CIS's experience and update the latest trends.

Q: Finally, as a player in the CRO industry, how do you see the market growth in the future?

A: Overall, Korean CROs' service quality has improved significantly. There are a lot of good talents out there, not only at Dream CIS but also at other companies. On the other hand, the increase in the number of CROs has also increased competition.

The CRO industry sets itself apart from others as it follows the domestic drug development situation. When investment in the bio sector decreases, clinical trials decrease, and vice versa. When the investment mindsets of bio companies shrink, clients are more concerned about the scale of clinical trials.

There may be some difficult times ahead, but I don't doubt the bio will be the next growth industry in Korea. Even if it is difficult right now, I believe that companies with good technology will achieve substantive results in the clinic once the investment revitalizes. The impact will spill over to the CRO market.