Global Drugmakers Join Hands With Startups

By • on April 10, 2017

The Yonhapnews website reported that global pharmaceutical companies are seeking to join hands with local startups as part of their effort to increase research and development productivity. The move is part of their effort to adopt “open innovation,” a network of collaboration with external institutes and individuals, as opposed to centralized R&D facilities. French drugmaker Sanofi is currently looking for South Korean startups to attend Viva Technology to be held in Paris in June. Germany-based drug company Bayer Pharmaceuticals is also holding an open innovation program, “Grants4Apps Korea,” in South Korea to look for promising startups in both IT and biotech sectors.

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