Handok Hosts 70th Anniversary R&D Symposium on Open Innovation

  • 2024.10.24
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Handok Hosts 70th Anniversary R&D Symposium on Open Innovation
 
Handok hosted the 'Evolution and Leap of Handok Open Innovation' R&D Symposium on October 23 at the Handok Future Complex in Magok, Seoul, to commemorate its 70th anniversary.

The R&D Symposium featured various expert presentations and lively discussions on open innovation, which has led to numerous new drug developments through innovation and collaboration. Over 200 experts from the pharmaceutical, biotech, academic, and investment sectors attended.

Global partners collaborating with Handok attended the symposium to present the achievements of global R&D open innovation with Handok. Thomas J. Schuetz, MD, PhD, CEO of Compass Therapeutics, discussed the opportunities for global anticancer drug development found through open innovation collaboration with Korea and shared the development status of the bile duct cancer treatment HDB001A (CTX-009) in collaboration with Handok. Nevan Charles Elam, JD, CEO of Rezolute, and Brian Roberts, MD, CMO, mentioned that the strategic partnership with Handok, which began in 2019, represents a new collaboration model between U.S. bioventures and Korean pharmaceutical companies, and presented the reasons and current status of the development of the congenital hyperinsulinism treatment RZ358 and the diabetic macular edema treatment RZ402 in collaboration with Handok.

The symposium was divided into three sessions, focusing on 'New Modality in Drug Development' and 'AI in Drug Development.' The first session on 'New Modality in Drug Development' was chaired by Park YoungMin, Director of the National New Drug Development Project, with presentations by Yoo WonKyu, Director of ABL Bio, Choi JaeHyun, Vice President of Genexine, Kim YongJoo, CEO of Ligochem Biosciences, Roh SungKoo, CEO of PharmAbcine, and Kim MinSoo, Director of Orum Therapeutics.

The second session on digital and AI was chaired by Professor Jung KyuHwan of Samsung Advanced Institute for Health Sciences & Technology, with presentations by Dong JaeJoon, CEO of BNJ Biopharma, Nam KiYeop, President of Pharos iBio, Park JongMyeon, Director of Genius, and Kim NaHyun, PhD, of Medidata Korea. The final session, chaired by Han WonSan, Vice President of External Affairs at Yonsei University Biohealth Technology Holdings, featured discussions on open innovation in drug development with Lee JungKyu, CEO of Bridge Biotherapeutics, Park SeungBeom, CEO of Spark Biopharma, Kwon SoHyun, CEO of Handok/InnoCube, and Moon YeoJung, Executive Director of IMM Investment. Participants actively exchanged opinions and networked during the networking session following the symposium.

Handok Chairman Kim YoungJin stated, "Handok, which began producing pharmaceuticals at the level of advanced countries through a technology partnership in 1957, has had a significant mission of contributing to the advancement of the domestic pharmaceutical industry since its founding. The DNA of collaboration and innovation that has continued for 70 years is now leading Handok's efforts to contribute to the establishment of a healthy pharmaceutical and biotech ecosystem through open innovation, beyond innovative new drug development."

In 2007, when the term open innovation was unfamiliar in the pharmaceutical and biotech industry, Handok adopted open innovation as its R&D strategy ahead of others. Handok has not only pioneered open innovation but has also continuously expanded its scope from domestic to overseas, from biotech to medical devices and digital therapeutics. Handok continues to strengthen its own research while accelerating and enhancing the competitiveness of new drug development through open innovation. As a result of open innovation, Handok achieved two technology exports in 2015 and 2021, and the case of Genexine, which began with joint development of hemophilia treatment in 2007 and led to investment in 2012, is considered a leading example of open innovation in the pharmaceutical and biotech industry.

Currently, Handok collaborates with domestic bioventures such as Genexine, ABL Bio, SCM Lifescience, and Spark Biopharma on new drug development, and with Enbiostech on in vitro diagnostic medical devices based on nanocon technology, and with Welt on digital therapeutics. Overseas, Handok collaborates with U.S. bioventures Rezolute and Compass Therapeutics to build a pipeline of new drugs for rare and metabolic diseases and cancer, enhancing global competitiveness. Handok also established its subsidiary InnoCube to nurture early-stage bio-healthcare startups and contribute to the creation of a healthy pharmaceutical and biotech ecosystem.
 






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