[BIO USA 2024] Korean biotech giants take center stage at BIO USA 2024

SAN DIEGO, Calif. -- By Kim Chan-hyuk/Korea Biomedical Review correspondent -- As this reporter looks out over the beautiful beach and glistening yacht marina in front of the San Diego Convention Center, this seems to be a place many people dream of. The clear blue ocean under the blue sky, the palm trees lining the beach, and the yachts swaying in the breeze were like something out of a movie.

It must appear too unromantic to think that such beautiful scenery like this makes people want more money. Money may not be the sole purpose of drug developers or manufacturers, but it’s clear that the idea of “taking a big chance” is one of the key drivers for companies worldwide to travel to the U.S. every year—like now.

Sunday (local time) was the eve of the world's largest pharma and biotech trade show, BIO International Convention 2024 (BIO USA). Organized by the Biotechnology Innovation Organization (BIO), BIO USA is held annually in major U.S. cities with bio clusters. Last year, the event was held in Boston, Mass., home of the Cambridge Innovation Center (CIC), and this year, in San Diego, Calif.

A visit to the venue the day before the opening day was enough to get one excited for this year's event. The venue was bustling with people preparing booths, and many participants had already registered for the event, adding to the excitement.

Korean companies were already visible in and around the venue. Samsung Biologics' banner greeted participants as they walked to the event. Samsung Biologics said it installed more than 140 banners on the road leading from the San Diego Airport to the venue and near the venue to increase brand awareness.

In the exhibit hall, which was not yet open to visitors, companies prepared colorful booths reflecting their confidence and innovation. Each has a different promotional strategy to showcase their technologies, manufacturing facilities, and brands.

This year, in addition to Samsung Biologics, which has the most prime location every year, many Korean companies made their way to the center of the venue. Lotte Biologics and Celltrion stood side by side, which was impressive. In particular, Lotte Biologics, which is accelerating the construction of its contract development and manufacturing (CDMO) facility, called Bio Campus, in Songdo, Incheon, seems to have relocated the facility from Songdo to San Diego.

Besides, Prestige Biopharma Group, CHA Bio Group, SK Group (SK biopharmaceuticals and SK bioscience), and SK pharmteco will have booths to welcome visitors. GC Cell will have a specialized partnering booth rather than an exhibition space to focus on individual meetings.

Other companies also focusing on partnering activities include Gradient Bioconvergence, Neurophet, ViGENCELL, Bertis, Shaperon, AptaBio, ABL Biologics, Olix Pharmaceuticals, Quratis, TiumBio, Pharos iBio, Y-BioLogics, and HLB bioStep. Genome & Company, which announced a 580 billion won ($420 million) technology transfer agreement with Swiss pharmaceutical company Debiopharm for an antibody-drug conjugate (ADC) candidate on Monday (KST), will also be on hand to discuss the details of the deal with the media.

BIO USA is a highly anticipated event that brings together pharma and biotech professionals and companies worldwide yearly to showcase the latest technologies and innovative products, exchange ideas, and collaborate. At BIO USA 2024, many Korean companies will participate in various seminars, workshops, and networking events to share the latest trends and technologies and explore ways to collaborate.

This reporter, who has experienced the excitement and preparations for the event firsthand, looks forward to tomorrow's opening. At this fair, participants will observe the activities and efforts of Korean pharma and biotech companies trying to expand into larger markets. I hope the global market will respond to these efforts and provide greater opportunities for domestic companies.