Korean biotech firms scout foreign execs to accelerate global biz

The Korean biopharmaceutical industry is actively recruiting foreign executives to launch their products in the global market.

According to industry watchers, Korean biopharmaceutical companies are pursuing new drug development and commercialization overseas rather than in Korea due to excessive domestic competition, the small market size, and strict regulations.

However, Korean companies are at a disadvantage in various fields in the global market for licensing, marketing, and clinical trials as they have low recognition abroad, an industry watcher told Korea Biomedical Review.

"Domestic companies have little experience in the global market, so they are moving towards recruiting global experts for smooth business operations overseas," he said, wishing to be unnamed.

Korean biopharmaceutical companies are eyeing to accelerate global clinical trials by utilizing the network and experience of the foreign experts, he added.

SK Bioscience recently hired Harry Kleanthous, Senior Program Officer at the Bill & Melinda Gates Foundation (BMGF), as the Executive Vice President of Vaccine R&D Strategy and External Innovation at SK Bioscience USA.

Before working at BMGF, Kleanthous also served as Vice President of Acambis, a British biotechnology company, and Associate Vice President of Science and Innovation at Sanofi Pasteur.

The recruitment of Kleanthous comes after SK Bioscience has been actively recruiting overseas talents ahead of its plans to establish a U.S. offshoot in Boston.

The company plans to develop new vaccines and discover new business opportunities through the U.S. offshoot.

SK Pharmteco also appointed Joerg Ahlgrimm as its new CEO.

According to SK Pharmteco, Ahlgrimm is an expert in the fields of synthetic drugs, antibody therapeutics, protein drugs, and cell and gene therapy.

Ahlgrimm served as Vice President of Operation at Baxter's Bioscience and head of global manufacturing at Baxalta, which was spun off from Baxter to develop treatment related to blood diseases.

Ahlgrimm later joined Lonza, where he oversaw the operations of 35 plants in the U.S., Europe, and Asia.

He took over as CEO of the Center for Breakthrough Medicines (CBM), a U.S. cell and gene therapy (CGT) contract development and manufacturing organization (CDMO), in 2020.

SK Pharmteco is the second largest shareholder of CBM.

With the appointment of Ahlgrimm, SK Pharmteco is expected to speed up the development of its CGT CDMO business.

Hugel also appointed Brand Saunders, former CEO of Allergan, as a non-executive director, and elected him as chairman of the board of directors.

According to Hugel, Saunders is an expert in the botulinum toxin and filler industry.

Saunders also worked with world-leading biopharmaceutical and healthcare companies such as Schering-Plough and Bausch & Lomb.

Hugel plans to accelerate its overseas market penetration by utilizing the global capabilities of Saunders.

Standigm, an artificial intelligence (AI) drug development company, appointed Carl Foster, who has more than 30 years of experience in biopharmaceutical business development, as its new chief business officer (CBO).

Foster held business development director positions at MSD and also served as Executive Vice President of business development at Cempra Pharmaceuticals.

With the recruitment of Foster, Standigm plans to accelerate its penetration into the global market.

MedPacto appointed Greg Licholai, former President of Elpidera, Moderna's rare disease venture company, and Vice President and General Manager at McKinsey Solutions, as a member of its Clinical Advisory Board (CAB).

Licholai is currently serving as Chief Medical Officer and Innovation Officer at ICON plc, a global clinical trial institution.

Based on his experience working at global pharmaceutical companies as well as consulting companies, MedPacto plan plans to utilize Licholai's expertise during the commercialization stage.

Alteogen carried out organizational restructuring and recruited Vivek Shenoy as its Chief Business Development Officer (CBO).

Shenoy will be in charge of business development and licensing agreements by contacting potential customers in the United States.

Shenoy has worked in business development and licensing agreements for over 20 years at AstraZeneca in the UK and Biocon, a biosimilar company in India.