The Ministry of Trade, Industry and Energy said it would aggressively help biotech companies to develop new biopharmaceutical medicines.
The ministry unveiled its plan at the “Biohealth industry Performance Sharing and Technology Information Exchange Meeting,” held at COEX, southern Seoul, on Thursday.
|Lee Sang-ho, program director of biomedicine at the Korea Evaluation Institute of Industrial Technology, speaks at the “Biohealth industry Performance Sharing and Technology Information Exchange Meeting,” held at COEX, southern Seoul, on Thursday.|
Lee Sang-ho, program director of biomedicine at the Korea Evaluation Institute of Industrial Technology (KEIT), said the trade ministry’s R&D operator has picked “personalized diagnosis and treatment based on biotech” as the government’s strategic bio-health program. KEIT supports the government’s strategic projects funded by the ministry’s R&D budget.
“Selecting the customized diagnosis and treatment using biotech is to develop personalized diagnostic and treatment technologies, to nurture the market with significant growth potential,” Lee said. “To improve the business environment for the biotech industry, the government is likely to seek deregulation and carry out a demonstration project for the advancement of intellectual property (IP).”
To support the customized biotech diagnosis and treatment, the government could help companies develop a related system, device, applications, incrementally modified drugs, new biopharmaceutical drugs, gene editing application, or customized stem cells, according to Lee.
Besides, companies could pursue tissue regeneration and artificial organ, or practical use of new medicines based on big data and artificial intelligence (AI), he said.
When supporting gene editing and stem cell treatment development, the government will help companies upgrade in the efficiency of differentiation, mass production, quality standardization, and development of storage technology for distribution, Lee emphasized.
In the digital healthcare sector, in which the government carries out another bio-health strategic program, the ministry will help biotech firms offer new services such as mobile-based post management of cancer and severe diseases, he added.
Major investments will go to the development of a biopharmaceutical big data platform (building a platform to integrate and analyze medical data), biometric data acquisition systems and applications, smart healthcare service, and gene editing applications and tailored stem cells, he said.
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