News
2023.06.26
- Invite prominent scholars from across the globe to seek the development direction of the Korean bio industry after the pandemic
- Hold periodic discussions on mutual cooperation plans and the exchange of domestic and international scholars
Photo: The Future of Korean Bio Industry
DxVx recently organized a meeting centered around the theme of ‘The Future of Korean Bio Industry’, bringing together esteemed bio and vaccine scholars from across the globe.
The meeting took place on the 23rd at the Lotte Hotel Seoul and was attended by Kwon Kyu-chan, CEO of DXVx, Han Sung-jun, CEO of Avixgen, Kim Jang-hee, CEO of Coree Company and Park Sang-tae, CEO of Coree USA. Dr. David Weinar of the Wistar Institue, Dr. Joseph Kim, CEO of AGENTA (Anti-cancer drug developer), Dr. Song Man-ki, Vice President of the International Vaccine Institue, and Dr. Choi Jong-sun, Vice President of the Korea Basic Science Institue (KBSI). The objective of the meeting was to engage in insightful discussions on riveting issues pertaining to the Korea bio industry and vaccine industry.
Dr. Weiner, recognized as the pioneer of DNA vaccines, holds the position of Vice President at the Wistar Institute, affiliated to National Cancer Institute (NCI). He also serves as the Research Chair of the WW Smith Cancer Research, and Director of the International Vaccine Society. Dr. Weiner made a visit to Korea to discuss future plans for global collaboration in the development of new drugs with DxVx.
During this gathering, the scholars diagnosed the Korea bio industry and engaged in a scientific and academic discussion concerning the necessary measures, both within corporate and academic sector, to brace for the endemic era. Dr. Weiner and Joseph Kim shared their valuable insights on the characteristics of the pandemic, the progression of biotechnology, and the global growth potential of the Korea bio industry.
Dr. Weiner explained about the distinctive features of pandemic, such as the rapid development and supply of vaccines and the emergence and spread of various virus strains. He stated that this period underscored the importance of the bio industry more than ever before. He also examined that the emergence of new technologies like machine learning would transform bio industry development, and the Korea bio industry, backed by competent human resources, assertive government support and corporate’s keen attention, would continue to thrive.
Dr. Joseph Kim also evaluated that Korea has an advantage in bio industry, thanks to its world-class human resources and large-scale production infrastructure.
The attendees also delved into the challenges that domestic corporates encounter in the process of research and development, as well as problem-solving strategies to enable them to grow as global bio corporates.
Dr. Joseph Kim suggested that, in comparison to US corporate strategies, many Korean bio companies tend to prioritize short-term performance and adopt risk-averse strategies, hindering them from going global. He emphasized that the need for these companies to venture into the R&D sector with a long-term vision.
Dr. Song Man-ki strengthened the necessity of global cooperation in vaccine development, pointing out “Although the government has made various investments in vaccine development and production infrastructures in Andong and Hwasun, there is a limited number of companies capable of conducting clinical trials from phase 1 to 3.”
Dr. Choi Jong-sun shed light on the significance of biotechnology development and the government’s strong will to provide support. He proposed that “The current stage calls for utilizing the government support to discover platform technologies and pursue commercialization.”
Mr. Kwon Kyu-chan expressed “it was such a grateful time to envision the future path of the domestic bio industry in the era of endemic. […] DxVx will advance strategic alliances with global companies to conduct research on candidate materials for new drugs currently under review.”
Upon this meeting, DxVx plans to hold periodic gatherings with domestic and industry industry experts, including Dr. Weiner, to explore various cooperation schemes, including global cooperation on new drugs and the exchange of human resources domestically and internationally.
Meanwhile, DxVx continues to expand its business into various healthcare fields such as drug distribution and new drug development. Recently, the company has been working on drug substance development and the recruitment of expert personnel.