(Photo: KDDF CEO Joo Sang-aun (left) and Dong Wu, Head, Johnson & Johnson Innovation, Asia Pacific Innovation Center (right))

Korea Drug Development Fund (KDDF, CEO Joo Sang-aun) launched a joint R&D program in which it is inviting researchers across the country to submit research project ideas that may merit future investment by KDDF and a global pharmaceutical company in order to maximize the possibility of global technical transfer. This project is expected to contribute to the expanding the potential for technology exports (licensing out) and for also promoting the diffusion of advanced knowhow in the field of new drug development throughout the industry nationwide.

KDDF announced on December 7th that it has signed an MOU with Johnson & Johnson Innovation on December 7th; regarding a strategic collaboration aimed at developing and commercializing healthcare products originating from Korean organizations for the global market. The collaboration will have a primary focus of jointly identifying, selecting and assisting local Korean universities, research institutes, and companies in further development as well as the operation of a joint R&D program.

Recently, multinational pharmaceutical companies have been pursuing open innovation to expand their new drug development pipelines, in which they have sought to discover new drug candidates from research institutes and venture businesses around the world.

In looking for opportunities for R&D cooperation with global multinational pharmaceutical companies in the first phase one a work plan toward realizing its goal of 'establishing an international network and vitalizing global project development', KDDF has recently announced the intention of more than 10 global pharmaceuticals to participate in a joint research program at various international conferences.

In phase two of the project, KDDF is focusing on joint R&D programs to maximize the possibility of out licensing, reflecting the demand from global big pharmaceuticals and spread advanced new drug development know-how to the domestic industry. The joint R&D program with Johnson & Johnson Innovation is the start of this initiative.

Under the MOU, the two parties will establish a strategic cooperative relationship to explore and select new drug candidates, support new drug research institutes in Korea and to potentially develop and commercialize new diabetes drug candidate substances invented in Korea for the global marketplace.

Any domestic research institute engaging in R&D of potentially global and innovative new drugs at the earliest stages of development in the field of diabetes can apply for the program, and if both parties agree to the suitability of investment, Johnson & Johnson Innovation could also potentially invest along with KDDF in the project.

For this, KDDF will announce the separate request for proposals (RFP) according to the schedule agreed to by Johnson & Johnson Innovation, and the selected projects will be operated by the Joint Steering Committee.

'There are many innovative projects with a high potential for the global market among the candidates possessed by domestic industry, universities and other research entities,' said Joo Sang-aun, CEO of KDDF. 'Through joint investment with global multinational pharmaceuticals, we can improve investment profitability, introduce advanced drug development know-how and accelerate the advancement of domestic new drug development by attracting foreign investment and minimizing development risks.'

Meanwhile, KDDF has been building a new drug R&D investment strategy platform targeting the global market, and has selected and provided grants for 80 projects out of 287 applications across all therapeutic areas and development stages. There have been 14 out license- deals wiorth en estimated $5 billion USD completed to date.

In particular, KDDF is operating a dual portfolio consisting of innovation type, and fit-for-purpose type. The joint R&D program with Johnson & Johnson Innovation is a fit-for-purpose project strategy that receives projects in the top-down way to suit the global market demand. This project aims to provide new opportunities for domestic research circles and vitalize their efforts to reinforce global competitiveness in the field of new drug development. Starting with the joint R&D program with Johnson & Johnson Innovation for diabetes, KDDF plans to carry out a broad range of cooperative projects with more global pharmaceuticals for various diseases.