Korean Biotech Companies Pursue Open Innovation with Overseas Partners for Drug Discoveries

By • on July 26, 2022

The Pulse News website reported that major Korean biotech companies have turned to open innovation with overseas partners for faster access to innovative methods and global markets. On July 13, JW Pharmaceutical signed an R&D partnership with ARCH Venture Partners in yet another unprecedented approach to open innovation following its joint research agreement for oncology with Singapore`s research and science agency A*STAR in 2018. This is the first time that a Korean pharmaceutical company has joined hands with a U.S. bio-healthcare VC to tap open basic research for novel drug exploration.

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