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.