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.

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