**MOU Signed for Joint Operation of Open Innovation Program**
SK Biopharm announced on the 13th that it has signed a strategic memorandum of understanding (MOU) with Seoul Bio Hub to operate an open innovation program. Seoul Bio Hub is a bio-medical startup support platform established by the Seoul Metropolitan Government.
Through this agreement, SK Biopharm and Seoul Bio Hub plan to jointly operate the open innovation program. They aim to discover and nurture promising startups with the technologies needed by SK Biopharm, strengthen mutual research and development (R&D) capabilities, and build a collaborative network.
The two organizations will announce a call for startups in February next year, conduct both written and in-person evaluations, and select two companies by March. These selected companies will receive specialized R&D consulting for new drug development and free one-year rent at Seoul Bio Hub. They plan to cultivate companies with strengths in the early development stages of new modalities (therapeutic methods) in areas including central nervous systems, oncology, and radiopharmaceuticals.
Seoul Bio Hub will provide priority access to startup support programs, including space, research infrastructure, investment attraction, promotion, and global expansion.
Last year, SK Biopharm introduced the radiopharmaceutical candidate ‘SKL35501’ from China’s Full-Life Technologies and is also working on bringing in new candidate substances. Last month, it launched a joint venture, ‘Mentis Care,’ in Canada to commercialize an AI-based epilepsy management platform, thereby expanding its business beyond central nervous system therapeutics.
Hyunwoo Kim, Director of Seoul Bio Hub, stated, “Seoul Bio Hub will collaborate closely with SK Biopharm to play a multi-faceted support platform role, helping bio startups with innovative technologies leap into the global market.”
Lee Dong-hoon, CEO of SK Biopharm, said, “We will share SK Biopharm’s global experience and interact with domestic startups to elevate the status of Korean bio companies and establish a mutually growing open innovation model.”