[News] [Inaugural Interview] Park Yeong-min, CEO of KDDF: “China’s lessons show the need for more funding and better regulation”

[Inaugural Interview] Park Yeong-min, CEO of KDDF: “China’s lessons show the need for more funding and better regulation”- "Clinical stage bears the highest development cost ratio…Government support for SME new drug developers remains inadequate"- China serves as a benchmark, not a rival…"Competition through gate evaluation and improved data quality"On the occasion of its second anniversary, the Korea Drug Development Fund (KDDF), which functions as the central coordinating body for national new drug development R&D, has underscored the urgent need for increased governmental support for research and development (R&D) funding. Despite achieving a 30% increase in clinical trial activity this year through its initiatives, the KDDF maintains that the current level of support remains inadequate to establish a sustainable ‘virtuous cycle’ encompassing global clinical trials and subsequent commercialization. The organization particularly highlighted the rapid development of China’s biopharmaceutical sector on the international stage as a pressing impetus for accelerating Korea’s national-level competitiveness of the bioindustry. conducted an interview with Park Yeong-min, CEO of KDDF, on July 1 to commemorate the second anniversary. [Editor’s Note]→ Read the full article on [THE BIO]

[News] [ASCO 2025] Why can’t Korea also do it? KDDF head Park says

​[ASCO 2025] Why can’t Korea also do it? KDDF head Park says   “As I listened to various presentations and talked with global drug development officials at the American Society of Clinical Oncology 2025 Annual Meeting (ASCO 2025), I kept thinking, ‘Why not? (We can also do it.)’”Park Yeong-min,  CEO of the Korea Drug Development Fund (KDDF), said so while meeting with reporters at the ASCO 2025 conference in Chicago, USA, on Sunday (local time).Park said he thought a lot when he saw Big Pharma in the U.S. and Europe leading global drug development and Chinese companies joining the ranks of global drug development at a frightening pace, but his conclusion was hope: “We can also do it.”“It was frustrating to think about the situation of Korean drug development companies sandwiched between the large booths of global pharmaceutical companies and Chinese companies that have leaped global pharmaceutical companies at ASCO 2025,” Park said. “Nevertheless, I thought that Korean drug development companies could do the same (as Chinese companies) and that if we do it step by step, we could join the ranks of global drug development.”KDDF participated in ASCO this year with a large number of executives, led by Park, to introduce Korean anticancer drug development capabilities to the international stage and expand opportunities for global collaboration. They traveled to Chicago to introduce the domestic anticancer development pipeline to global drug development companies and seek overseas technology transfer and joint development.“We were impressed with the presentations related to the latest trends, including novel cancer mechanism-based therapies, combination therapy with immuno-oncology drugs, biomarker-based precision medicine, and patient-centered treatment strategies using real clinical data,” Park said. “We saw the research results presented or exhibited by domestic companies and identified technology transfer possibilities and joint development needs to help them connect with global partners.”He added that based on these global trends, KDDF plans to more precisely design R&D and commercialization support strategies that domestic drug development companies actually need.Park, saying he could have a comprehensive overview of anticancer drug development at ASCO 2025, reiterated that Korean companies could develop new anticancer drugs, stressing that KDDF plans to support all available resources as a facilitator for these domestic drug development companies.→ Read the full article on [Korea Biomedical Review]

[News] 'Korea’s IPO-driven biotech sector offers prime entry point for global VCs'

'Korea’s IPO-driven biotech sector offers prime entry point for global VCs'Global venture capital (VC) firms seeking new growth avenues should closely examine Korea's dynamic biotech sector, which continues to offer robust IPO-driven opportunities, according to Moon Yeo-jung, senior managing director of IMM Investment, during the 2025 KDDF Global Biotech Showcase held at the Fairmont Ambassador Seoul on Tuesday. Sponsored by the Korea Drug Development Fund (KDDF), the event aimed to invigorate Korea’s new drug development ecosystem through direct meetings between biotech companies and investors.Moon, representing IMM Investment, one of Korea’s largest independent VC firms managing over $6.6 billion, highlighted Korea’s distinctive investment landscape and significant government backing.In 2024 alone, over $1.35 billion was invested into 323 biotech companies, making biotech the second-largest VC sector in Korea, according to Moon. The uniqueness of Korea's biotech sector lies in its IPO-driven exit market, which differs significantly from Western markets where mergers and acquisitions (M&A) are common."Most exits are IPO-driven, meaning companies must prepare early for public markets," she explained. "Founders typically must hold at least 20 percent ownership for a successful IPO in Korea."Despite historically high valuations, Moon noted that a recent market correction is creating more attractive entry points."Series A valuations this year are nearly half of what they were previously,” she said. “If you're waiting for the right moment, now is the time.”→ Read the full article on [Korea Biomedical Review] 

[News] Mass General Brigham Innovation eyes Korean biotech partnerships

 Mass General Brigham Innovation eyes Korean biotech partnershipsAt the 2025 KDDF Global Biotech Showcase held Tuesday at the Fairmont Ambassador Seoul, Dione Kobayashi, Head of Therapeutics and Partner at Mass General Brigham Innovation, highlighted the organization’s commitment to expanding global biotech collaborations, particularly with Korean firms.The event, hosted by the Korea Drug Development Fund (KDDF), was designed to invigorate Korea’s new drug development ecosystem through direct meetings between local biotech startups and global investors.  Translating discovery into opportunity: the role of Mass General Brigham InnovationMass General Brigham Innovation functions as the central bridge between cutting-edge academic research and real-world therapeutic impact within one of the world’s most prominent healthcare systems.While its parent organization, Mass General Brigham, anchors the largest hospital-based research enterprise in the U.S., such as prestigious hospitals like Massachusetts General Hospital and Brigham and Women’s Hospital, Mass General Brigham Innovation's mandate is distinctly entrepreneurial, which is to identify, invest in, and advance technologies that can ultimately benefit patients at scale.As Dione Kobayashi explains, the office operates beyond the traditional bounds of technology transfer.“We don’t just license out IP -- we incubate and invest in early science that has the potential to define entirely new categories of medicine,” she said.Among its key platforms is the Amplify team, a specialized unit within Mass General Brigham Innovation focused on pre-commercial, high-risk therapeutic development, which Kobayashi leads. The team works at the earliest stages of translational research -- often before a formal startup is even created -- bringing together scientific validation, market modeling, and operational planning under one roof.“The team is intentionally small but deeply experienced,” Kobayashi noted. “We have internal experts in medicinal chemistry, RNA therapeutics, biologics, commercial strategy, and medical product development. Our job is to spot what others might overlook, and give it the structure and resources it needs to take shape.”Unlike traditional VCs, the Amplify team doesn’t just write checks as they often embed themselves directly in the formation and growth of companies. Core team members may even serve as interim CSOs or development officers until a full executive structure is in place.This “hands-on investing” model allows them to reduce operational costs while increasing execution efficiency during the company’s earliest and riskiest stages.Kobayashi also emphasized the importance of risk appetite.“We’re not in the business of funding incremental improvements as we look for science that can truly shift paradigms,” Kobayashi said. “That might mean a novel delivery platform, a previously undruggable target, or an entirely new class of molecules.”This bold approach is only possible because of the infrastructure surrounding Mass General Brigham Innovation. With access to thousands of active researchers, world-class hospital networks, and one of the largest biorepositories in North America, the organization is uniquely positioned to de-risk scientific ideas while accelerating them toward the clinic. Korean biotech impresses with real-world readinessWhen asked why she became interested in the Korean biotech sector, Kobayashi said her engagement with Korean biotech firms began with an earlier visit to TIPS (Tech Incubator Program for Startup), a separate showcase of emerging Korean companies.“I was blown away by their development pipelines and the maturity of their assets,” she recalled. “Unlike some early-stage ventures in the U.S., these companies came with concrete data and well-thought-out development plans.”That impression led to her participation in this week’s KDDF Global Biotech Showcase. She views Korea as an increasingly strategic partner, especially in today’s constrained biotech funding environment in the U.S., often dubbed “Biotech Winter.”“This is a time to think creatively and look for new opportunities,” she said. “Collaborating with Korean firms can help de-risk projects, add synergistic value, and open up new markets, including potential Korean investors.”→ Read the full article on [Korea Biomedical Review] 

[News] Korea State R&D Fund Seeks Continuity To Enable Seamless Support

 Korea State R&D Fund Seeks Continuity To Enable Seamless Support With the state-run Korea Drug Development Fund (KDDF), which plays a key role in providing R&D support to the country’s biopharma industry, already midway through its current 10-year term, the fund is stressing the need to raise its budget and ensure the continuity of time-limited projects to prevent disruptions. The KDDF, a consortium of three South Korean government ministries (Health and Welfare, Trade, Industry and Energy, and Science and ICT), was established in 2011 to foster drug development programs nationally and provides assistance up to the Phase II stage. Over the 2021 to 2030 period, its strategic aim is to provide a total of $2bn to 1,234 projects. Besides R&D grants, the KDDF also provides business development, licensing and other support and its goals include the development of a global blockbuster drug with annual sales of KRW1tn ($702m) or more, and the approval of four novel drugs in the US and EU. → Read the full article on [CITELINE] (Subscription required) 

[News] KDDF to back over 1,200 drug development projects by 2030 with ₩2.17 tril. in government funding

 KDDF to back over 1,200 drug development projects by 2030 with ₩2.17 tril. in government ​fundingThe Korea Drug Development Fund (KDDF) plans to support more than 1,200 new drug development projects by 2030, backed by 2.17 trillion won ($1.5 billion) in government funding over the 10-year national program period.The announcement came during a press conference Thursday at the Fairmont Ambassador Seoul, marking the fund’s fourth anniversary.KDDF Director-General Park Yeong-min outlined the organization’s 2025 strategy, emphasizing intensified support for novel drug modalities and high-potential anticancer therapies to bolster Korea’s global competitiveness in pharmaceutical R&D.“We will concentrate on supporting new targets and new modalities, with a portfolio centered on anticancer therapies,” Park said. “The bottleneck phase—what we call the ‘valley of death’—remains the most critical hurdle for companies, and our role is to ensure they can cross it with sustained global competitiveness.”Despite ongoing government-wide R&D budget cuts, KDDF will expand its support in 2025.The number of supported new drug development projects will rise from 78 in 2024 to 128 in 2025. Clinical trial support will also see a 30 percent funding increase to reflect rising development costs.Under the revised scheme, phase 1 clinical trials can receive up to 4.55 billion won from 3.5 billion won, and phase 2 trials up to 9.1 billion won from 7 billion won. The 2025 pipeline includes 18 early discovery projects, 23 lead compounds, 37 candidate substances, 34 preclinical, 10 phase 1, and six phase 2 trials.→ Read the full article on [Korea Biomedical Review]

[News] KDDF aims to boost clinical trial budget by 30% in 2025, awards 6 outstanding projects

KDDF aims to boost clinical trial budget by 30% in 2025, awards 6 outstanding projects Amid challenges facing Korea’s bio-venture and new drug development industries, the Korea Drug Development Fund (KDDF) will increase its clinical trial project budget by 30 percent in 2025.Park Yeong-min, president and CEO of KDDF, announced the initiative during the 2024 National Drug Development Project awards ceremony held in Seoul on Tuesday. He highlighted the fund's efforts to strengthen global competitiveness in the coming year.The awards, now in their second year, recognize outstanding projects and promote collaboration across academia, industry, and research institutions. From September to December, KDDF evaluated 391 projects, selecting six exemplary initiatives after a rigorous six-round selection process. This year's recognition was reduced from 10 projects last year.→ Read the full article on [Korea Biomedical Review] 

[News] Nature Ad_The KDDF immunology pipeline: translating cutting-edge science into novel therapeutics

[News] Nature Ad_Transforming the future of antibody therapeutics

[News] Nature Ad_Investing in innovative approaches to oncology

[News] Nature Ad_bringing next-generation immunotherapies to global markets

[News] S. Korea to spend over 2 tln won on new medicine development project

South Korea said Thursday it will spend over 2 trillion won (US$1.78 billion) over the next 10 years to help local pharmaceutical companies develop new medicines that generate annual sales of over 1 trillion won.The country's ambitious 2.18 trillion won project, which starts in July this year, will be financed with state funds of 1.47 trillion won and 700 billion won from the private sector over the 10-year period, according to the Ministry of Science and ICT. .. Read more  

[News] S. Korea vows $2 bn in national drug development projects by 2030

 South Korea will invest a total of 2.17 trillion won ($1.92 billion) in national novel drug development projects over the next decade, with 1.47 trillion won from the government and 70 million won from the private sector.   The Ministry of Science and ICT announced the plan on Thursday along with the appointment of Mook Hyun-sang as the new head of Korea Drug Development Fund (KDDF).   The fund will explore effective and lead compounds and support drug development processes that span non-clinical and early-phase clinical trials.  ..   Read more

[Press Release] KDDF hosts an event to provide an opinion-sharing opportunity regarding

KDDF hosts an event to provide an opinion-sharing opportunity regarding‘The latest trends in development of immuno-oncology therapy’-‘Joint R&D Program Workshop’ held for the joint R&D of immuno-oncology treatments Korea Drug Development Fund (KDDF) (headed by Hyunsang Mook, hereafter KDDF) announced that they had successfully hosted the ‘Joint R&D Program Workshop’ at 2pm on the 8th of August (Tue), at Grand Intercontinental Seoul Parnas. The workshop was held under the topic of ‘The latest trends in development of immuno-oncology therapy’ and was attended by 400 people who actively work in the field of novel drug development.   The workshop was held as part of the Joint R&D Program, currently ongoing with MSD (Merck, Sharp & Dohme/Merck & Co., Inc. for USA) for immuno-oncology therapies. The workshop was used to enhance the researchers’ understanding of the joint research and its target areas.   The workshop was especially valuable, as the latest research trends in the development of immune-oncology treatments were presented and discussed. This allowed the Korean researchers to gain a 5-year perspective on the direction of their researches for immuno-oncology treatments.   During the opening speech, Hyunsang Mook, the head of KDDF said, “Anticancer therapies were extremely important innovations that completely changed the way of treating cancer. We kindly ask for your active support in the Joint R&D Program currently ongoing with MSD, the leading company in the area of immune-oncology. We are hoping that through this meeting, we will achieve not only progress in our novel drug development, but also a new insight into the direction of research and further opportunity to collaborate with MSD.”    On that day, the following topics were presented in order; ▶ (Presentation 1) ‘The current perspectives on CAR (Chimeric Antigen Receptor) T cell therapy’ by Joonho Jeong from Seoul National University ▶(Presentation 2) ‘New next generation of immune checkpoint inhibitors beyond PD-1/PD-L1 antibodies’ by Inhak Choi from Inje University ▶(Presentation 3) ‘Current status & implication for MSD immuno-oncology collaborative clinical development’ by Yeoungmin Kim, Director of MSD ▶(Presentation 4) ‘Introduction to KDDF and Joint R&D Program’ by Taeuk Kim, the Chief Business Officer of KDDF.   During the panel discussion, which was chaired by Taeuk Kim, the Chief Business Officer of KDDF, an active discussion was held around topics of the groundbreaking ‘CAR-T’ treatments. The panel examined the direction of the future development of these agents, which enabled a 90% complete remission rate of cancer cells. Also, detailed cases were presented regarding the idea of Molecular Shields as a new generation of immuno-oncology medication, which may provide a solution to increasing patient response and overcoming resistance to immune checkpoint inhibitors. Furthermore, Heonwoo Shin, a senior executive of MSD, provided the attendees with answers to their questions regarding MSD’s ‘Combination strategy’ and the details of the standards used to select the topics for joint research. By providing some examples, he added that, “The most important aspect at this point, where more than 500 combination studies are already ongoing; is that the task differentiates itself from the other tasks by providing an expected clinical efficacy and a MOA to reinforce it with.”   KDDF had disclosed their Request For Proposal (RFP) in the area of immuno-oncology agents from lead to phase II stage of clinical trial. They have also announced that they will be receiving task proposals from private companies, universities (including medical institutions), government-funded research institutes, as well as public research institutes within Korea.   The application may be submitted between 09/18 (Mon) ~ 09/22 (Fri). Any investigators who wish to apply for the program may submit the application form and the relevant documents, after confirming the details on the Korea Drug Development Fund (KDDF) website (http://www.kddf.org). 

[Press Release] KDDF MSD joint forces to quantum jump for novel drug development

KDDF MSD joint forces to quantum jump for novel drug development- Invitation opens on the 12th regarding a novel drug development task in the area of immune anticancer agents   Korea Drug Development Fund (KDDF) (Headed by Hyunsang Mook, hereafter Fund) has begun their invitation for a public participation of 'Joint R&D Program' to discover a novel substance to be licensed out which will have a high potential in the global market.   On the 12th (Wed), the fund had disclosed their request for proposal (RFP)  in immuno-oncology area from hit to ph II clinical trial stage. They had also announced that they will be receiving task proposals from private companies within the country, universities (Including medical institutions), government-funded research institutes, as well as public research institutes.   The application is submitted between Sep 18 to 22. The investigator who wishes to partake in the program may submit the application form and the relevant documents after confirming the details on the Korea Drug Development Fund (KDDF) website ()   This invitation for public participation holds significance as it is Top-Down novel drug development project which is being propelled on a global level. It is being processed jointly with MSD (Merck Sharp & Dohme/ Merck for USA) from the project planning, preparation of the request for proposal to all steps of proposal review & evaluation, and collaborative research of the project.   The tasks submitted will undergo an assessment and review process by both KDDF and MSD. The management and implementation of the task will be performed by joint steering committee, participated by an equal number of representatives from the institution, KDDF and MSD. The final task selected will receive investments either by cash or goods from MSD and KDDF's R&D support.   Previously in June last year, the fund had formed a Memorandum of Understanding (MOU) with MSD regarding 'Joint R&D Program' for an immune anticancer treatment. Therefore, a strategic cooperation has been agreed for development and commercialization of the potential compound of Korean novel anticancer treatment regarding its search, selection and general support.   The fund also plans to hold a workshop in August to enhance the investigators' understanding of the details and target area of 'Joint R&D Program' by KDDF-MSD.   Hynsang Mook, the head of Korea Drug Development Fund (KDDF) mentioned 'This invitation is a great chance to maximize the possibility to introduce drug development technique and to license out drug compounds, as well as strengthening the investment profit. It is a joint investment which reflects the requests of global multinational pharmaceutical companies regarding Korean novel drug compounds. At the upcoming workshop, we plan to introduce the details of the public participation and provide a chance for the investigators to share their latest opinions on global novel drug research and a place of cooperation by innovative companies. We look forward to your active participation and interest.' 

[Press Release] KDDF actively pursues mutual cooperation with global pharmaceutical companies

KDDF actively pursues mutual cooperationwith global pharmaceutical companies- MOU formed with Servier for ‘Joint R&D program for cardiovascular diseases’ Korea Drug Development Fund (KDDF) (headed by Hyunsang Mook, hereafter KDDF) formed a business agreement with a Servier (Institut De Recherches Internationales Servier), a French multinational pharmaceutical company, on the 16th of June (Wed). Servier specializes in diabetes and cardiovascular diseases. It is good to note that this agreement, for the upcoming joint R&D program for the research of cardiovascular diseases, was formed in the main conference room of the KDDF office.   KDDF has gained a chance to accelerate the process of technology transfer by this agreement. It allows for an active discovery of excellent research results within the country, based on the evaluation process and expertise of Servier; prior to the launch of the Joint R&D Program.   Servier is present in 146 different countries and invests 25% of their prescription-based medication sales into R&D. Servier is currently investing heavily in the 5 main areas of cardiovascular diseases, diabetes, cancer, inflammatory immune disorders and neurodegenerative diseases. Three thousand researchers are actively conducting research for novel drug development in numerous laboratories, including the laboratories in France, Korea and other parts of the world. A number of clinical trials are also currently being conducted in Korea for Servier.   At the Joint R&D Program, KDDF and global pharmaceutical companies share the process of selection, investment and management of the projects. As the company that receives the technological asset becomes involved from the very beginning of the research and development, there is an increased likelihood of licensing out. Also, there is an added benefit of being able to learn the techniques used by global pharmaceutical companies in lead compound discovery during the project.   KDDF will announce a separate Request For Proposals (RFP) after the formation of MOU, where a joint decision-making committee will conduct the operation and management of the selected projects.   Hyunsang Mook, the head of KDDF has commented that “KDDF is promoting Joint R&D Programs as one of the key projects to maximize the possibility of technology transfer that reflects the needs of global pharmaceutical companies, as well as diffusing their expertise in novel drug development in the Korean industry. Through a strategic cooperation, we will focus on forming a long term relationship with Servier; in order to utilize their R&D and commercialization capabilities.”   Meanwhile, KDDF has conducted two Joint R&D Programs based on a planning and management scheme. This covered the areas of the investment structure, operation method, procedures, and items of agreement. The programs were conducted with Johnson & Johnson Innovation for the development of a novel drug for type 2 diabetes, and MSD for an anticancer drug. Furthermore, discussions relating to the program are currently ongoing with other global pharmaceutical companies. 

[Press Release] KDDF becomes a trustworthy partner in global technology transfer

KDDF becomes a trustworthy partner in global technology transfer - KDDF stays active to expand the network between domestic and global companies,including organizing partnership with global pharmaceutical companies.  Korea Drug Development Fund (KDDF) (headed by Hyunsang Mook, hereafter KDDF) has committed itself to become a trustworthy partner for the affairs of global technology transfer. Leaded by Hyunsang Mook, KDDF has begun a variety of activities, which could heighten the chances of global technology transfers for the innovative projects currently supported by the KDDF. KDDF announced on the 28th that the fund will attend a variety of partnering meetings with global pharmaceutical companies such as: ‘The Consultation Meeting for Innovative Technologies’ hosted by KOTRA on the 30th of March, ‘KPAC (Korea Pharma Associations Conference)’ and ‘BIO KOREA 2017’ in April. In June, KDDF will participate in other domestic and international activities by attending the ASCO and BIO International Convention. A variety of global drug development related activities have been planned for this year. This includes major conferences for diseases of interest, some of which will be attended for the first time, as well as exhibitions where the first discussions for actual technology transfer take place. ‘The Consultation Meeting for Innovative Technologies’, which will be held at COEX Intercontinental Hotel on the 30th, will be hosted by KOTRA. Its’ intention is to provide support in commercialization of many technologies that Korean pharmaceutical bio companies are currently developing. These include innovative novel drugs, incrementally modified drugs and other cutting-edge biotechnologies. KDDF will also seek opportunities in developing new businesses and support the ongoing projects by participating in partnering meetings with global pharmaceutical companies. KDDF and KOTRA, prior to the event, have been preparing for 1:1 consultation sessions since October of last year. These sessions will be held to match Korean companies that possess excellent technologies which are relevant to the supported projects, with the companies in demand of such technologies as suggested by KOTRA. As a result, 60 Korean companies in possession of excellent technologies, 30 global pharmaceutical companies and overseas technology investors will participate in the session to commence the procedure of technology transfer. Furthermore, Hyunsang Mook, head of the fund, will chair the session of ‘Cutting Edge of Open Innovation.’ He will deliver practical information relating to open innovation to the attending professionals during ‘KPAC’, which will be held on the 11th of April at COEX Intercontinental Hotel. He will also participate in ‘BIO KOREA 2017’ from the 12th till 14th to participate in a variety of partnering meetings with global pharmaceutical companies. KDDF will introduce ‘models of partnership’, such as joint R&D programs and promote the supported projects through various partnering meetings. In addition, the fund will discuss ways to cooperate with global pharmaceutical companies. Joint R&D programs have been conducted with Johnson & Johnson Innovation and MSD in the past, and networking with multinational pharmaceutical companies relevant to the program will be further expanded in the future. Hyunsang Mook, the head of KDDF commented, “For the last 5 years, KDDF has pursued a variety of activities to form network with global pharmaceutical companies all over the world. This year, we will be attending major conferences for the diseases of interest, such as cancer and rheumatoid arthritis. We are hoping to be able to deliver the competitiveness of our projects to the lead compound development specialists of global pharmaceutical companies. We will also continue our partnerships with global pharmaceutical companies, which were formed by our ongoing participation in international exhibitions. Hopefully this will create a synergistic effect.” He also added, “Now is the time to expand and reinforce the global network that we possess so it can lead to a practical achievement in technology transfer. In Korea, we will provide the best solutions in overcoming the hurdle that the novel drug developers often have issues with, by operating an advisory board which consists of specialists from Korea and abroad. At the same time, we will heighten our chances of global technology transfer, by forming networks with global pharmaceutical companies.” KDDF has been regularly co-hosting ‘Global Forum’ with Korea National Enterprise for Clinical Trials (KoNECT) since the beginning of the year. Their intention is to activate the network between domestic business development and clinical specialists. The first ‘Global Forum’ was held on the 16th of February under the topic of ‘Business Development.’ The second forum will be held on the 27th of April, under the topic of ‘Gap analysis, seeking solutions for clinical development and novel drug development in Korea’, from the aspect of clinical development. 

[Press Release] LegoChem Biosciences strike a 24 billion won out-licensing deal with China granting the production of a drug for treating multidrug-resistant pathogens

LegoChem Biosciences strike a 24 billion won out-licensing deal with China granting the production of a drug for treating multidrug-resistant pathogens– LegoChem Biosciences and RMX Biopharma enter into a licensing agreement – Korea Drug Development Fund (KDDF), a consortium of three health-related Korean Ministries (the Ministry of Science, ICT, and Future Planning; the Ministry of Trade, Industry, and Energy; and the Ministry of Health and Welfare), has announced that the use of KDDF-funded technology of LegoChem Biosciences, LCB01-0371 – a new oxazolidinone compound to treat multidrug-resistant pathogens – has been licensed to a Chinese biotechnology company which had recently been founded by former employees of various global pharmaceutical companies.   KDDF announced on December 12th that LegoChem had signed an exclusive licensing agreement with the research-oriented company RMX Pharma in China, which grants the Chinese firm the rights to develop, manufacture, and commercialize LCB01-0371 in Chinese market.   KDDF selected LCB01-0371 as one of the promising drug candidates on February 2012 and made a financial support for the development of an oral antibiotic in phase 1 clinical trials over a period of 17 months.   Under the agreement, LegoChem will receive 24 billion won as an up-front cash payment with additional royalties.   Globally, China holds the second-largest market share in antibiotics. According to a 2015 WHO report, this country topped the list in the prevalence of newly-diagnosed multidrug-resistant tuberculosis. The market research reports from Visiongain, the global leading business portal, forecast that China’s antibiotic-market is expected to make a double-digit growth from 2015 to 2020—and the market volume is projected to reach about 20 trillion won by 2021.   “We are excited to have an initial partnership with RMX, a company with excellent drug development competence in the rapidly-increasing Chinese antibiotic market. The agreement further allows us to broaden and accelerate other ongoing discussions with our global partners based on the clinical results from RMX and our own findings,” Kim Yong-ju, CEO of LegoChem, explained.   Joo Sang-aun, CEO of KDDF, said: “China has the largest anti-infective market and its sales volume can reach up to 20 trillion won in 2021. It is very encouraging that LCB01-0371 is now globally recognized.”   “We expect that our fully-fledged R&D support program will move forward in entering a global market,” Joo further noted.   Since its establishment in 2009, KDDF has firmly established sound business infrastructure ideal for the development of global drugs. Of 358 applications submitted to date, it has supported a total of 104 projects through all phases of development. As a result, 17 technologies at different phases of development have been successfully transferred both at home and abroad in a number of therapeutic fields.   Korea Drug Development Fund (KDDF),is a cross-ministry, full-cycle and government-initiated R & D business entity that supports new drug development beyond the boundaries of R & D. It was established by the Ministry of Science, ICT, and Future Planning, the Ministry of Trade, Industry, and Energy, and the Ministry of Health and Welfare to promote new drug development projects for global markets. Its aim is to have at least 10 new drugs developed and to advance the strategic investment platform for new drug R & D investment targeting global market. 

[Press Release] KDDF appoints Mook Hyun-sang as new CEO

KDDF appoints Mook Hyun-sang as new CEO- an expert in rich experience and extensive knowledge in open innovation and global technology transfer - Korea Drug Development Fund (KDDF), a consortium of three health-related Korean Ministries – the Ministry of Science, ICT, and Future Planning; the Ministry of Trade, Industry, and Energy; and the Ministry of Health and Welfare – announced on December 19th that the organization had named Mook Hyun-sang (former CEO of Medifron DBT) as its third chief executive officer.    KDDF finally selected its new leader in a meeting of the board of directors after the three ministries publicly recruited eligible candidates on September and performed the three screening tests (written screening, interview, and qualification tests).   The selected CEO started to work from December 19th, 2016. He will retain the post until September 9th, 2020.   KDDF is a full-phase, government-initiated drug development program. It aims to develop at least 10 new drugs for the global market by 2020 and to advance a new drug development R&D investment platform. Instead of pursuing R&D-oriented projects in terms of simple management of such projects, KDDF has fully engaged in initiatives to strengthen its R&BD (Research & Business Development) function – i.e., its business-centered assistance program – beginning from an idea creation and continuing to the planning and investment stage.   One of Mook’s major achievements has been to successfully make a technology transfer deal with Roche for the second time in Asia (following a prior deal of Japanese company). With his rich experience and extensive knowledge of open innovation, Mook has proven his expertise not only in developing new medicines but also in commercializing and marketing them.   “Based on my 10-year career in the open-innovation sector, including successful technology transfer with Global Big Pharma, I will do my best to explore and support new research findings that will lead to the development of new drugs in the long run. I will also spare no effort to boost the technology transfer,” Mook said.  Korea Drug Development Fund (KDDF),is a cross-ministry, full-cycle and government-initiated R & D business entity that supports new drug development beyond the boundaries of R & D. It was established by the Ministry of Science, ICT, and Future Planning, the Ministry of Trade, Industry, and Energy, and the Ministry of Health and Welfare to promote new drug development projects for global markets. Its aim is to have at least 10 new drugs developed and to advance the strategic investment platform for new drug R & D investment targeting global market. 

[Press Release] AbClon signs a deal to export its KDDF-funded technology of HER2 targeting antibody to China

 AbClon signs a deal to export its KDDF-funded technology of HER2 targeting antibody to China- The 16th licensing deal achievement of KDDF since 2011 -  Korea Drug Development Fund (KDDF) announced on November 2nd that AbClon has signed an agreement with Shanghai Hanlius Biotech (“Henlius”) on October 27th to transfer its KDDF-funded technology AC101, a novel HER2 targeting antibody. KDDF is a government funding organization established by three health-related Korean ministries: the Ministry of Science, ICT and Future Planning, the Ministry of Trade, Industry and Energy, and the Ministry of Health and Welfare.   Based on the company's NEST (Novel Epitope Screening Technology) platform technology, AbClon developed an antibody AC101 against HER2 positive gastric and breast cancers. The novel targeted antibody project was selected and financed by KFDF in its lead optimization phase over 18 months from November 2014.    NEST platform technology, one of AbClon’s core technologies, is aiming to develop first-in-class human monoclonal antibodies that may bind to numerous sites of proteins implicated in a variety of diseases.  The Chinese biotechnology company will secure rights to develop and commercialize the medicine in China, and has an option to acquire overseas sales rights, under the agreement, and will pay the upfront, commission and royalty to AbClon.   Hanlius, one of the leading biotechnology firms, is a joint venture established by Shanghai Fosun Pharmaceutical and Henlius Biopharmaceutical in 2009. The company focuses on the development, production and commercialization of monoclonal antibody drugs for a number of therapeutic areas, including oncology and auto-immune diseases. Hanlius is now conducting clinical trials for 6 antibodies and of these, HLX01 (Rituxan biosimilar) and HLX02 (Herceptin biosimilar) are now under phase III trials.    GlobalData predicts that the world’s gastric cancer market will grow to approx. $4.39 billion in 2024 with an annual average growth rate of 14.5%. Now that conventional treatments exhibit limited efficacy on gastric cancer, the successful commercialization of AC101 is likely to give tremendous impacts to the global oncology arena.   “More recently, Institut Pasteur Korea’s novel hepatitis C virus drug candidate has been transferred to J2H Biotech, a local biotechnology company. We are also delighted to learn that another first-in-class antibody candidate will be exported to China”, said Joo Sang-aun, CEO of KDDF.    He added that KDDF will ceaselessly endeavor to fully finance a number of innovative drug candidates through careful selection process, thus enhancing the capability of Korea’s new drug technology. Since its establishment in 2009, KDDF has seen the number of successful technology transfers to 16 (overseas: 6, domestic: 10) to date, valued at 5 trillion won.