Korea Health Industry Development Institute (KHIDI) and the Korean Embassy in Washington will host a seminar to help domestic companies advance to Boston Biocluster at Cambridge Marriott Hotel, Boston, next Friday.
The workshop will be held by the Ministry of Health and Welfare’s Medical Korea base office, hosted by the Korean Embassy in Washington, organized by KHIDI’s U.S. branch and sponsored by the Boston chapter of the Korean American Society in Biotech and Pharmaceuticals (KASBP), and Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA).
It is designed to help Korea’s biopharmaceutical industry advance to the bio-ecosystem in Boston to prepare for the post-Covid-19 new normal era, the institute said.
In Boston, ventures with superior technology collaborate with top-class universities, such as Harvard and MIT, global pharmaceutical companies, and top medical institutions to develop new drugs. Massive venture capital investments and frequent initial public offerings (IPO) also made Boston one of the favorite bio-clusters targeted by Korean companies.
In the seminar, experts who have experienced Boston’s bio-cluster will provide their know-how to help domestic companies join the cluster.
Genosco CEO Koh Jong-sung will talk about how his company successfully landed in Boston. Dr. Lee Seung-joo of Innovative Medicine Salon will give a speech on whether domestic companies could grow up to top global pharmaceuticals.
Samyang Biopharm USA CEO Lee Hyun-jung will give a speech on the cases of Korean pharmaceutical companies advancing to Boston to develop new drugs, and B.W. BioMed CEO Woo Jung-hoon will explain effective strategies to enter Boston bio-industry cluster in the post-Covid-19 era.
“For domestic biotech companies considering entering the U.S. market, it is better to enter Boston where the bio-industry has already been well established,” said Kim Sang-hee, Minister Counselor of the Embassy of the Republic of Korea in the USA. “We expect more companies to enter Boston and establish a biotech network tie between the two countries.
Park Soon-mahn, head of KHIDI’s Boston Branch, said, “Our branch’s move to Boston reflects the trend that the city is becoming the center of the biotech industry of the U.S., and we will continue to help domestic companies advance to America by supporting them to use Boston’s bio-infrastructure, business partnerships, and licensing consulting.”