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[News] S. Korea to spend over 2 tln won on new medicine development project

South Korea said Thursday it will spend over 2 trillion won (US$1.78 billion) over the next 10 years to help local pharmaceutical companies develop new medicines that generate annual sales of over 1 trillion won.The country's ambitious 2.18 trillion won project, which starts in July this year, will be financed with state funds of 1.47 trillion won and 700 billion won from the private sector over the 10-year period, according to the Ministry of Science and ICT. .. Read more  

[News] S. Korea vows $2 bn in national drug development projects by 2030

 South Korea will invest a total of 2.17 trillion won ($1.92 billion) in national novel drug development projects over the next decade, with 1.47 trillion won from the government and 70 million won from the private sector.   The Ministry of Science and ICT announced the plan on Thursday along with the appointment of Mook Hyun-sang as the new head of Korea Drug Development Fund (KDDF).   The fund will explore effective and lead compounds and support drug development processes that span non-clinical and early-phase clinical trials.  ..   Read more

[Press Release] KDDF hosts an event to provide an opinion-sharing opportunity regarding

KDDF hosts an event to provide an opinion-sharing opportunity regarding‘The latest trends in development of immuno-oncology therapy’-‘Joint R&D Program Workshop’ held for the joint R&D of immuno-oncology treatments Korea Drug Development Fund (KDDF) (headed by Hyunsang Mook, hereafter KDDF) announced that they had successfully hosted the ‘Joint R&D Program Workshop’ at 2pm on the 8th of August (Tue), at Grand Intercontinental Seoul Parnas. The workshop was held under the topic of ‘The latest trends in development of immuno-oncology therapy’ and was attended by 400 people who actively work in the field of novel drug development.   The workshop was held as part of the Joint R&D Program, currently ongoing with MSD (Merck, Sharp & Dohme/Merck & Co., Inc. for USA) for immuno-oncology therapies. The workshop was used to enhance the researchers’ understanding of the joint research and its target areas.   The workshop was especially valuable, as the latest research trends in the development of immune-oncology treatments were presented and discussed. This allowed the Korean researchers to gain a 5-year perspective on the direction of their researches for immuno-oncology treatments.   During the opening speech, Hyunsang Mook, the head of KDDF said, “Anticancer therapies were extremely important innovations that completely changed the way of treating cancer. We kindly ask for your active support in the Joint R&D Program currently ongoing with MSD, the leading company in the area of immune-oncology. We are hoping that through this meeting, we will achieve not only progress in our novel drug development, but also a new insight into the direction of research and further opportunity to collaborate with MSD.”    On that day, the following topics were presented in order; ▶ (Presentation 1) ‘The current perspectives on CAR (Chimeric Antigen Receptor) T cell therapy’ by Joonho Jeong from Seoul National University ▶(Presentation 2) ‘New next generation of immune checkpoint inhibitors beyond PD-1/PD-L1 antibodies’ by Inhak Choi from Inje University ▶(Presentation 3) ‘Current status & implication for MSD immuno-oncology collaborative clinical development’ by Yeoungmin Kim, Director of MSD ▶(Presentation 4) ‘Introduction to KDDF and Joint R&D Program’ by Taeuk Kim, the Chief Business Officer of KDDF.   During the panel discussion, which was chaired by Taeuk Kim, the Chief Business Officer of KDDF, an active discussion was held around topics of the groundbreaking ‘CAR-T’ treatments. The panel examined the direction of the future development of these agents, which enabled a 90% complete remission rate of cancer cells. Also, detailed cases were presented regarding the idea of Molecular Shields as a new generation of immuno-oncology medication, which may provide a solution to increasing patient response and overcoming resistance to immune checkpoint inhibitors. Furthermore, Heonwoo Shin, a senior executive of MSD, provided the attendees with answers to their questions regarding MSD’s ‘Combination strategy’ and the details of the standards used to select the topics for joint research. By providing some examples, he added that, “The most important aspect at this point, where more than 500 combination studies are already ongoing; is that the task differentiates itself from the other tasks by providing an expected clinical efficacy and a MOA to reinforce it with.”   KDDF had disclosed their Request For Proposal (RFP) in the area of immuno-oncology agents from lead to phase II stage of clinical trial. They have also announced that they will be receiving task proposals from private companies, universities (including medical institutions), government-funded research institutes, as well as public research institutes within Korea.   The application may be submitted between 09/18 (Mon) ~ 09/22 (Fri). Any investigators who wish to apply for the program may submit the application form and the relevant documents, after confirming the details on the Korea Drug Development Fund (KDDF) website (http://www.kddf.org). 

[Press Release] KDDF MSD joint forces to quantum jump for novel drug development

KDDF MSD joint forces to quantum jump for novel drug development- Invitation opens on the 12th regarding a novel drug development task in the area of immune anticancer agents   Korea Drug Development Fund (KDDF) (Headed by Hyunsang Mook, hereafter Fund) has begun their invitation for a public participation of 'Joint R&D Program' to discover a novel substance to be licensed out which will have a high potential in the global market.   On the 12th (Wed), the fund had disclosed their request for proposal (RFP)  in immuno-oncology area from hit to ph II clinical trial stage. They had also announced that they will be receiving task proposals from private companies within the country, universities (Including medical institutions), government-funded research institutes, as well as public research institutes.   The application is submitted between Sep 18 to 22. The investigator who wishes to partake in the program may submit the application form and the relevant documents after confirming the details on the Korea Drug Development Fund (KDDF) website ()   This invitation for public participation holds significance as it is Top-Down novel drug development project which is being propelled on a global level. It is being processed jointly with MSD (Merck Sharp & Dohme/ Merck for USA) from the project planning, preparation of the request for proposal to all steps of proposal review & evaluation, and collaborative research of the project.   The tasks submitted will undergo an assessment and review process by both KDDF and MSD. The management and implementation of the task will be performed by joint steering committee, participated by an equal number of representatives from the institution, KDDF and MSD. The final task selected will receive investments either by cash or goods from MSD and KDDF's R&D support.   Previously in June last year, the fund had formed a Memorandum of Understanding (MOU) with MSD regarding 'Joint R&D Program' for an immune anticancer treatment. Therefore, a strategic cooperation has been agreed for development and commercialization of the potential compound of Korean novel anticancer treatment regarding its search, selection and general support.   The fund also plans to hold a workshop in August to enhance the investigators' understanding of the details and target area of 'Joint R&D Program' by KDDF-MSD.   Hynsang Mook, the head of Korea Drug Development Fund (KDDF) mentioned 'This invitation is a great chance to maximize the possibility to introduce drug development technique and to license out drug compounds, as well as strengthening the investment profit. It is a joint investment which reflects the requests of global multinational pharmaceutical companies regarding Korean novel drug compounds. At the upcoming workshop, we plan to introduce the details of the public participation and provide a chance for the investigators to share their latest opinions on global novel drug research and a place of cooperation by innovative companies. We look forward to your active participation and interest.' 

[Press Release] KDDF actively pursues mutual cooperation with global pharmaceutical companies

KDDF actively pursues mutual cooperationwith global pharmaceutical companies- MOU formed with Servier for ‘Joint R&D program for cardiovascular diseases’ Korea Drug Development Fund (KDDF) (headed by Hyunsang Mook, hereafter KDDF) formed a business agreement with a Servier (Institut De Recherches Internationales Servier), a French multinational pharmaceutical company, on the 16th of June (Wed). Servier specializes in diabetes and cardiovascular diseases. It is good to note that this agreement, for the upcoming joint R&D program for the research of cardiovascular diseases, was formed in the main conference room of the KDDF office.   KDDF has gained a chance to accelerate the process of technology transfer by this agreement. It allows for an active discovery of excellent research results within the country, based on the evaluation process and expertise of Servier; prior to the launch of the Joint R&D Program.   Servier is present in 146 different countries and invests 25% of their prescription-based medication sales into R&D. Servier is currently investing heavily in the 5 main areas of cardiovascular diseases, diabetes, cancer, inflammatory immune disorders and neurodegenerative diseases. Three thousand researchers are actively conducting research for novel drug development in numerous laboratories, including the laboratories in France, Korea and other parts of the world. A number of clinical trials are also currently being conducted in Korea for Servier.   At the Joint R&D Program, KDDF and global pharmaceutical companies share the process of selection, investment and management of the projects. As the company that receives the technological asset becomes involved from the very beginning of the research and development, there is an increased likelihood of licensing out. Also, there is an added benefit of being able to learn the techniques used by global pharmaceutical companies in lead compound discovery during the project.   KDDF will announce a separate Request For Proposals (RFP) after the formation of MOU, where a joint decision-making committee will conduct the operation and management of the selected projects.   Hyunsang Mook, the head of KDDF has commented that “KDDF is promoting Joint R&D Programs as one of the key projects to maximize the possibility of technology transfer that reflects the needs of global pharmaceutical companies, as well as diffusing their expertise in novel drug development in the Korean industry. Through a strategic cooperation, we will focus on forming a long term relationship with Servier; in order to utilize their R&D and commercialization capabilities.”   Meanwhile, KDDF has conducted two Joint R&D Programs based on a planning and management scheme. This covered the areas of the investment structure, operation method, procedures, and items of agreement. The programs were conducted with Johnson & Johnson Innovation for the development of a novel drug for type 2 diabetes, and MSD for an anticancer drug. Furthermore, discussions relating to the program are currently ongoing with other global pharmaceutical companies. 

[Press Release] KDDF becomes a trustworthy partner in global technology transfer

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. 

[Press Release] LegoChem Biosciences strike a 24 billion won out-licensing deal with China granting the production of a drug for treating multidrug-resistant pathogens

LegoChem Biosciences strike a 24 billion won out-licensing deal with China granting the production of a drug for treating multidrug-resistant pathogens– LegoChem Biosciences and RMX Biopharma enter into a licensing agreement – Korea Drug Development Fund (KDDF), a consortium of three health-related Korean Ministries (the Ministry of Science, ICT, and Future Planning; the Ministry of Trade, Industry, and Energy; and the Ministry of Health and Welfare), has announced that the use of KDDF-funded technology of LegoChem Biosciences, LCB01-0371 – a new oxazolidinone compound to treat multidrug-resistant pathogens – has been licensed to a Chinese biotechnology company which had recently been founded by former employees of various global pharmaceutical companies.   KDDF announced on December 12th that LegoChem had signed an exclusive licensing agreement with the research-oriented company RMX Pharma in China, which grants the Chinese firm the rights to develop, manufacture, and commercialize LCB01-0371 in Chinese market.   KDDF selected LCB01-0371 as one of the promising drug candidates on February 2012 and made a financial support for the development of an oral antibiotic in phase 1 clinical trials over a period of 17 months.   Under the agreement, LegoChem will receive 24 billion won as an up-front cash payment with additional royalties.   Globally, China holds the second-largest market share in antibiotics. According to a 2015 WHO report, this country topped the list in the prevalence of newly-diagnosed multidrug-resistant tuberculosis. The market research reports from Visiongain, the global leading business portal, forecast that China’s antibiotic-market is expected to make a double-digit growth from 2015 to 2020—and the market volume is projected to reach about 20 trillion won by 2021.   “We are excited to have an initial partnership with RMX, a company with excellent drug development competence in the rapidly-increasing Chinese antibiotic market. The agreement further allows us to broaden and accelerate other ongoing discussions with our global partners based on the clinical results from RMX and our own findings,” Kim Yong-ju, CEO of LegoChem, explained.   Joo Sang-aun, CEO of KDDF, said: “China has the largest anti-infective market and its sales volume can reach up to 20 trillion won in 2021. It is very encouraging that LCB01-0371 is now globally recognized.”   “We expect that our fully-fledged R&D support program will move forward in entering a global market,” Joo further noted.   Since its establishment in 2009, KDDF has firmly established sound business infrastructure ideal for the development of global drugs. Of 358 applications submitted to date, it has supported a total of 104 projects through all phases of development. As a result, 17 technologies at different phases of development have been successfully transferred both at home and abroad in a number of therapeutic fields.   Korea Drug Development Fund (KDDF),is a cross-ministry, full-cycle and government-initiated R & D business entity that supports new drug development beyond the boundaries of R & D. It was established by the Ministry of Science, ICT, and Future Planning, the Ministry of Trade, Industry, and Energy, and the Ministry of Health and Welfare to promote new drug development projects for global markets. Its aim is to have at least 10 new drugs developed and to advance the strategic investment platform for new drug R & D investment targeting global market. 

[Press Release] KDDF appoints Mook Hyun-sang as new CEO

KDDF appoints Mook Hyun-sang as new CEO- an expert in rich experience and extensive knowledge in open innovation and global technology transfer - Korea Drug Development Fund (KDDF), a consortium of three health-related Korean Ministries – the Ministry of Science, ICT, and Future Planning; the Ministry of Trade, Industry, and Energy; and the Ministry of Health and Welfare – announced on December 19th that the organization had named Mook Hyun-sang (former CEO of Medifron DBT) as its third chief executive officer.    KDDF finally selected its new leader in a meeting of the board of directors after the three ministries publicly recruited eligible candidates on September and performed the three screening tests (written screening, interview, and qualification tests).   The selected CEO started to work from December 19th, 2016. He will retain the post until September 9th, 2020.   KDDF is a full-phase, government-initiated drug development program. It aims to develop at least 10 new drugs for the global market by 2020 and to advance a new drug development R&D investment platform. Instead of pursuing R&D-oriented projects in terms of simple management of such projects, KDDF has fully engaged in initiatives to strengthen its R&BD (Research & Business Development) function – i.e., its business-centered assistance program – beginning from an idea creation and continuing to the planning and investment stage.   One of Mook’s major achievements has been to successfully make a technology transfer deal with Roche for the second time in Asia (following a prior deal of Japanese company). With his rich experience and extensive knowledge of open innovation, Mook has proven his expertise not only in developing new medicines but also in commercializing and marketing them.   “Based on my 10-year career in the open-innovation sector, including successful technology transfer with Global Big Pharma, I will do my best to explore and support new research findings that will lead to the development of new drugs in the long run. I will also spare no effort to boost the technology transfer,” Mook said.  Korea Drug Development Fund (KDDF),is a cross-ministry, full-cycle and government-initiated R & D business entity that supports new drug development beyond the boundaries of R & D. It was established by the Ministry of Science, ICT, and Future Planning, the Ministry of Trade, Industry, and Energy, and the Ministry of Health and Welfare to promote new drug development projects for global markets. Its aim is to have at least 10 new drugs developed and to advance the strategic investment platform for new drug R & D investment targeting global market. 

[Press Release] AbClon signs a deal to export its KDDF-funded technology of HER2 targeting antibody to China

 AbClon signs a deal to export its KDDF-funded technology of HER2 targeting antibody to China- The 16th licensing deal achievement of KDDF since 2011 -  Korea Drug Development Fund (KDDF) announced on November 2nd that AbClon has signed an agreement with Shanghai Hanlius Biotech (“Henlius”) on October 27th to transfer its KDDF-funded technology AC101, a novel HER2 targeting antibody. KDDF is a government funding organization established by three health-related Korean ministries: the Ministry of Science, ICT and Future Planning, the Ministry of Trade, Industry and Energy, and the Ministry of Health and Welfare.   Based on the company's NEST (Novel Epitope Screening Technology) platform technology, AbClon developed an antibody AC101 against HER2 positive gastric and breast cancers. The novel targeted antibody project was selected and financed by KFDF in its lead optimization phase over 18 months from November 2014.    NEST platform technology, one of AbClon’s core technologies, is aiming to develop first-in-class human monoclonal antibodies that may bind to numerous sites of proteins implicated in a variety of diseases.  The Chinese biotechnology company will secure rights to develop and commercialize the medicine in China, and has an option to acquire overseas sales rights, under the agreement, and will pay the upfront, commission and royalty to AbClon.   Hanlius, one of the leading biotechnology firms, is a joint venture established by Shanghai Fosun Pharmaceutical and Henlius Biopharmaceutical in 2009. The company focuses on the development, production and commercialization of monoclonal antibody drugs for a number of therapeutic areas, including oncology and auto-immune diseases. Hanlius is now conducting clinical trials for 6 antibodies and of these, HLX01 (Rituxan biosimilar) and HLX02 (Herceptin biosimilar) are now under phase III trials.    GlobalData predicts that the world’s gastric cancer market will grow to approx. $4.39 billion in 2024 with an annual average growth rate of 14.5%. Now that conventional treatments exhibit limited efficacy on gastric cancer, the successful commercialization of AC101 is likely to give tremendous impacts to the global oncology arena.   “More recently, Institut Pasteur Korea’s novel hepatitis C virus drug candidate has been transferred to J2H Biotech, a local biotechnology company. We are also delighted to learn that another first-in-class antibody candidate will be exported to China”, said Joo Sang-aun, CEO of KDDF.    He added that KDDF will ceaselessly endeavor to fully finance a number of innovative drug candidates through careful selection process, thus enhancing the capability of Korea’s new drug technology. Since its establishment in 2009, KDDF has seen the number of successful technology transfers to 16 (overseas: 6, domestic: 10) to date, valued at 5 trillion won. 

[Press Release] IPK licenses out hepatitis C virus drug candidate to J2H Biotech

IPK licenses out hepatitis C virus drug candidate to J2H Biotech- The 15th licensing deal achievement of KDDF since 2011 - Korea Drug Development Fund (KDDF), a government funding organization established by three health-related Korean ministries: the Ministry of Science, ICT and Future Planning, the Ministry of Trade, Industry and Energy, and the Ministry of Health and Welfare, has transferred a total of 15 KDDF-funded technologies to domestic and foreign companies, thus demonstrating the competitiveness of its new drug R&D investment platform.   KDDF announced on October 31th that Institut Pasteur Korea (IPK) and J2H Biotech has signed an out-licensing agreement for a first-in-class hepatitis C virus (HCV) drug candidate. Under the agreement, IPK will collect 3.5 billion won upfront and 5% royalty on net income, when the product goes on sale. With a 14-month financial support from KDDF, thiophene urea (TU) small molecule series was further refined to be an optimized Lead, and final optimization was completed in 2015.   In 2013, IPK screened small molecule compounds libraries with the infectious HCV cell culture system to discover novel viral interventions. The project resulted in identifying the TU compound series. TU inhibits HCV’s ability to enter into hepatocytes by targeting a viral protein, and it prevents cell-to-cell spread of the virus, thereby inhibiting the major route of HCV transmission in the liver.   Globally, more than 200 million people have chronic HCV infection, and a significant number of those who are chronically infected are under threat of this life-threatening liver disease. There is currently no vaccine for hepatitis C. The standard therapy of antiviral medicines can cure only 70 to 80% of patient with hepatitis C. Furthermore, their wider use is still restrictive in terms of serious side-effects and tremendous economic burden.   Since its establishment in 2009, KDDF has seen the number of successful technology transfers to 15 (overseas: 5, domestic: 10) in a number of therapeutic fields and at different development phases, valued at 5 trillion won.   “To make Korea a powerhouse of new drugs, it is necessary to make ceaseless investments in all preclinical and clinical phases as part of an effort to maximize the linkage of each development phase. In particular, this technology transfer is meaningful in that the infrastructure supporting clinical research may be connected to other development phase without being abandoned or delayed”, said Joo Sang-aun, CEO of KDDF.   Dr. Marc Windisch, Group Leader, IPK Hepatitis Research Laboratory, commented, “TU is ideal to prevent reinfection of graft in patients undergoing liver transplantation. I expect TU will help reduce the emergence of viral drug resistance, potentially minimize treatment periods, and ultimately reduce the cost of therapy.”

[Press Release] In 5 years since its establishment, the Korea Drug Development Fund (KDDF) has accelerated the national development of new drugs for the global market

In 5 years since its establishment,the Korea Drug Development Fund (KDDF) has accelerated the national development of new drugs for the global market- Excellent performance includes funding 97 research projects and fostering 14 domestic/overseas technology transfer worth 5 trillion won (fixed-rate). Over 5 year period of time, the Korea Drug Development Fund (KDDF) (CEO Sang-Un Joo) put enormous effort to create eco-system for new drug development, including establishing two track support system(Innovation driven, market driven), open innovation based global connect and development program, drug value evaluation projects and so forth. KDDF was established as a collaborative effort of 3 core ministry in Korea, ‘the Ministry of Science, ICT and Future Planning’, ‘the Ministry of Trade, Industry and Energy’, and ‘the Ministry of Health and Welfare’. It aimed to break down the boundaries between ministries. KDDF consistently pushes ahead with the new business platforms described below to improve the domestic capacity to develop new drugs targeting global markets. KDDF was established on Sep 2011, and it did not even take one year for KDDF to successfully manage the tech-transfer from bio-venture to well known pharmaceutical company. KDDF supports study-related projects six times a year and has so far received 338 applications, of which 97 have been selected. Among the projects that have been supported, 14 cases were licensed out (domestic and overseas) and its total deal value is KRW 5 trillion. One example was the project of Hanmi pharmaceutical. After receiving extensive support from KDDF for 40 months, Hanmi made the deal with Sanofi, and the deal value was the highest global wide up until 2015 based on the total down payment. Acceleration into the World MarketKDDF leads an aggressive campaign to expand domestic infrastructure for new drug development, and substantial results have been achieved since its establishment. The first objective is to support study-related projects to promote innovation and improve the initiation and efficiency in corresponding studies. KDDF uses bottom-up approach to ensure full participation in creating high-potential technology to address disease as well as developing new drugs. KDDF also operates ‘Joint R&D Program’ with top-down approach to support projects according to demand forecast of global pharmaceutical technology transfer. The objective of the Joint R&D Program is to promote businesses participation, investment and management in studies through partnerships with global pharmaceutical companies. The intended goal is to license-out technology by promoting the direct involvement of global firms in the initial phase of development. In addition, there is an advantage of having an opportunity to learn advanced business development techniques from global pharmaceutical companies. As an example, KDDF supported the development of new drugs targeting type II diabetes through a collaboration with Johnson & Johnson Innovation, and this project is currently ongoing through an agreement and continued consultation. Second, a ‘Joint R&D Program’ is currently planned with MSD for anti-cancer agent development. Accordingly, KDDF entered an MOU with MSD last June that is currently under joint development. In addition, the global C&D program is a new initiative that aims to improve the global technology transfer potential. This initiative intends to introduce quality substances that are currently under study outside of South Korea into domestic research institutes to induce the establishment of research pipelines as well as co-development. A related C&D TECH FAIR was held last year to introduce international trends in new drug development and open innovation activities to the domestic market. This is expected to open a greater number of opportunities to achieve the goal of 10 cases of global technology transfer for KDDF. In addition, KDDF successfully launched drug evaluation program to assess drug value, produce relevant technical marketing data, analyze strength and weakness of the target drug associated with drug approval information, and operate R&D support. The global technology transfer support program pursues distinctive technology transfer competitiveness through the construction of value added activities in consultation with research institutions. Furthermore, KDDF is developing a strategic knowledge data base for new drug development to help domestic firms understand the prospects in global markets and improve their accessibility to drug development information. KRW 5 trillion of technology transfer outcomesThe actual outcomes achieved by KDDF are a result of the domestic/overseas technology transfer, inducing a higher level of competitiveness, and creating an increase in awareness for the world market. This has resulted in creating synergy of various efforts to develop new drugs for the global market, as mentioned earlier. KDDF achieved KRW 5 trillion in outcome through 14 cases of technology transfer over a period of 5 years. Technology in various phases of development at universities, research institutions, bio startup ventures, and pharmaceutical companies have been the subject of domestic/overseas technology transfer, ranging from bridging the technology transfer1) for domestic studies to domestic companies or to global technology transfer (as with Hanmi Pharmaceutical studies last November). This is an indicator of the global competitiveness of KDDF's study task assessment and support system, demonstrating the competency of KDDF. In fact, the entire assessment system selected its project support by receiving applications, reviewing documents, presenting assessments, conducting on-site inspection, reviewing investment and signing agreements and consultations according to KDDF's in-house assessment index. The overall assessments are conducted at each level by relevant professionals from the field who are selected by the review committee pool to actively improve professionalism and fairness. Further outcomes of KDDF are also expected by supporting projects to become more competitive. 23 projects have advanced to further trials among the 97 study tasks that have been supported. This is not easy matter since these excellent studies have resulted in new drugs that have been successful in all study levels (clinical and non-clinical), including lead substance searching, candidate substance deduction, etc. The rate of new drug development entering into higher levels is of 34%-85% worldwide, with a consistently decreasing trend due to change in recent regulatory environment. Therefore such outcomes have been evaluated as more significant and meaningful. Third, the status of KDDF and the value of its supported pipeline in the global market has gradually increased. To promote excellent domestic studies in the world market, KDDF has participated in the Bio International Convention since 2012 to actively promote its supporting study tasks and to consistently put an effort to expand the global network by participating in various international exhibitions and meetings. Sang-Un Joo, the CEO of the Korea Drug Development Fund (KDDF) said 'KDDF was established as the first national policy model and has achieved significant outcomes over 5 years, including quantitative results in terms of technology transfer, reaching later phases of research, and networking with global pharmaceutical companies to produce an organizational system to improve domestic development of new drugs. He added “KDDF is characterized as flexible operation with definite aim awareness' and indicated that 'South Korea is expected to develop as a new drug power with global competitiveness in the short term on top of its rich history and great outcomes, if KDDF is firmly established as the center of a cooperative relationship between industry, academia, and other associations and political groups”.   1) It has significant meaning in bridging the role of universities, medium-sized ventures, pharmaceutical companies, global pharmaceutical firms. Such technology transfer outcomes are the result of the maximization of connectivity of new drug development stages with no discontinuity in order to attain global technology transfer.   Korea Drug Development Fund (KDDF),is a cross-ministry, full-cycle and government-initiated R & D business entity that supports new drug development beyond the boundaries of R & D. It was established by the Ministry of Science, ICT, and Future Planning, the Ministry of Trade, Industry, and Energy, and the Ministry of Health and Welfare to promote new drug development projects for global markets. Its aim is to have at least 10 new drugs developed and to advance the strategic investment platform for new drug R & D investment targeting global market. 

[Press Release] [InterBiz 2016] KDDF to introduce its business models at InterBiz 2016

[InterBiz 2016] KDDF to introduce its business models at InterBiz 2016  Korea Drug Development Fund (KDDF) will participate in the 14th InterBiz Bio-Partnering & Investment Forum 2016 that will kick off from July 6 for a 3-day run at Phoenix Island Resort in Jeju.   Under the theme of “Facilitating Companion Growth & Open Innovation Through Partnering”, 2016 InterBiz is an event for biotechnology and pharmaceutical companies, universities, research laboratories, and venture capitalists of Korea to look for in-licensing and investment opportunities.   KDDF said on July 4 that it would actively promote networking with experts from industry-academia-institute at the event.   Leaders from domestic biotechnology and pharmaceutical companies, universities, research organizations, venture start-ups, and consulting service firms will gather at the 2016 InterBiz to discuss the transfer of technologies possessed by related organizations and create investment partnership.   During that event, KDDF plans to open an exhibition booth to provide R&D leaders of diverse fields with information that it supports at all stages of drug development. Further, KDDF will consult with them about the details related to submission of each project while introducing current technologies funded by KDDF.   “The establishment of virtuous cycle through cemented networks between medium-size and large-size companies as well as experts in industry-academia-institute-venture will mark a significant milestone in terms of Korea’s successful entry into the global arena of new drug development,” said Joo Sang-aun, CEO of KDDF.   “KDDF supports all stages of drug development. It will exert utmost efforts to create successful drug development business models through effective partnership with R&D leaders in related fields.” 

[Press Release] KDDF to start an English Newsletter for foreigners

KDDF to start an English Newsletter for foreigners Officials from the Korea Drug Development Fund (KDDF) announced on February 7 that it will start a new, once-monthly English website to provide key information regarding all of its business activities and research and development (R&D) projects performed here from this March.   The KDDF’s English version website (http://eng.kddf.org/bbs/bbs.asp?CateId=114) is aimed at providing foreign internet users who visit the website with fresh and up-to-date information ranging from the development phase to the current status of each R&D project. As of February 2016, the fund supports a total of 87 research projects.   In particular, foreign pharmaceutical companies, institutes, and universities will be able to keep track of the current status of research projects with keen interest via the KDDF’s online newsletter service, and they can directly contact the chief researcher, whenever necessary.   The KDDF’s move to start an English newsletter website is based on the growing number of local and foreign internet users who are visiting its Korean website since the fund plays an important role in publicizing Korea’s R&D capabilities throughout the world. Therefore, visitors can read the latest news about key activities of the KDDF and detailed profiles of the existing and new research projects, including related papers and patent trends, and this will pave the way to further expand the KDDF’s global network.   Joo Sang-aun, the CEO of the KDDF, said that “The English version website is our first online newsletter service, but our Korean version online service has already started in February 2013 and has continued to provide users with valuable information (on up to 38 occasions).”   “By starting online English services, we expect that more people at home and abroad will get a chance to acquire information about Korea’s R&D new drug projects.”   In the meantime, based on its business strategy, the KDDF has financed a total of 87 research projects for global drug development among the 304 screened applications hitherto. As of 2015, the fund witnessed 14 cases of successful technology transfer that reached 5 trillion won in terms of total revenue.   Instead of pursuing R&D-oriented projects, the KDDF is making every effort to strengthen the R&BD (Research & Business Development) function – i.e., business-centered assistance program – to introduce successful models in Korea’s new drug development sector at an earlier date.   The KDDF is a consortium of three health-related Korean ministries: the Ministry of Science, ICT and Future Planning, the Ministry of Trade, Industry and Energy, and the Ministry of Health and Welfare. It was established in 2011 with a budget of US$ 1 billion to develop at least 10 new drugs by 2020 for the global market and to advance a new drug development R&D investment platform. [Appendix] English newsletter issue (March 2016)    

[Press Release] KDDF and Johnson & Johnson Innovation sign MOU for a fit-for-purpose joint R&D program to fight type-2 diabetes

 KDDF launches global technical transfer acceleration project-KDDF and Johnson & Johnson Innovation sign MOU for a fit-for-purpose joint R&D program to fight type-2 diabetes-   (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.Korea Drug Development Fund (KDDF) is:A cross-ministry full-cycle R&D project of the Ministry of Science, ICT and Future Planning, the Ministry of Trade, Industry and Energy, and the Ministry of Health and Welfare, which have provided support for new drug development. It is a global new drug development project with the investment of 1.6 trillion won (government, 530 billion won; private sector, 530 billion won) for nine years until 2020. This project aims to develop 10 or more new global drugs and realize the advancement of the new drug R&D investment strategy platform targeting the global market. 

[Press Release] Korea Drug Development Fund, Eentered MOU with Global CRO PAREXEL

KDDF, Eentered MOU with Global CRO PAREXEL- Built First Global Network—Anticipating Strengthened New Drug Development Capability - The KDDF (Korea Drug Development Fund) and PAREXEL have entered into a contract to seek ways to strengthen domestic new drug development capability. KDDF announced that it has made an MOU at the Head Office of PAREXEL, located in Boston, last June 19 (local time in Boston). The agreement is significant because has created the first global network since the inception of KDDF. Through this contract, the KDDF: △ Seeks various cooperation methods helpful to all domestic research institutions inside or outside business matters. △ Aims to globalize domestic new drug development capability through the benchmarks of advanced countries.△ Intends to build a close cooperation system with PAREXEL in its human resource training program, necessary for new drug development, which is one of KDDF’s major projects to be processed. DH Lee, President of KDDF, said, “I am pleased to have built various channels capable of providing essential resources to academies, research institutions, and biopharmaceutical companies. Through collaboration with PAREXEL, the full-cycle R&D entity of the KDDF that develops & supports superior projects with an aim to develop new drugs globally, will seek various cooperative measures allowing for the provision of practical help to all domestic R&D institutions & companies.” He also said, “Through this MOU, the capability of domestic new drug development will be strengthened and the likelihood of success will be maximized through active and specialized consulting roles, not to mention boosting the ability to develop new drugs domestically.” Ron Kraus, Corporate Vice President, said, “While fostering various new biopharmaceutical companies developing their new technologies, KDDF evaluates the feasibilities and provides support. Therefore, PAREXEL will collaborate with the KDDF by providing technology support in accordance with its mission of supporting global drug development. This partnership is expected to provide many opportunities not only for KDDF, but also PAREXEL, to promote innovation in these companies.” Further, PAREXEL took an unexpected but appreciated step to strengthen the cooperative relationship by officially announcing the MOU contract with KDDF on the 18th (local time) to Japan, Australia, China, and India through its global network.  [Reference] Photo of MOU contractPhoto: Left) Dongho Lee, President, KDDF;  Right) Gadi Saarony, Senior Vice President, PAREXEL

[Press Release] KDDF establishes MOU with WCCT Global

KDDF establishes MOU with WCCT Global- Extending the global network and reinforcing special consulting capacity for new drugs - □ The Korea Drug Development Fund (KDDF) is now working with WCCT Global (WCCT), a global CRO, to reinforce Korea's ability to develop new drugs that meet global standards. ○ An MOU was announced between the KDDF and WCCT in Orange County (California, USA) on the 22nd of October, 2012. ○ This MOU is the KDDF's second global MOU since its inception. The KDDF intends to pursue various collaborative plans for domestic research institutes in the same area and close cooperation for education forums and personnel development programs for new drug development. □ Kenneth T. Ki, CEO of WCCT said “We have worked closely with many Asian countries in the areas of regulation, new drug development and initial clinical tests, and are very pleased that Korean companies will also be giving support to new drug development in the USA.” □ Dongho Lee, CEO of the KDDF, added “following our MOU last June with PAREXEL, a global CRO, it is meaningful to extend this network with another overseas CRO. We will continue to provide diverse channels for academic, research and bio-pharmaceutical institutions, and strengthen our special consulting role for the development of new drugs that meet global standards.' ○ Lee later added, “Through this MOU, we will develop diverse cooperative plans to give practical help to domestic research institutes and companies.” □ WCCT Global is an outsourcing company for initial level clinical development in the areas of pharmaceutical, biotechnology and medical equipment industry, and provides regulation, program management and strategic consulting support for domestic and international innovation companies. □ The KDDF was officially launched in September as a government-wide R&D project with the Ministry of Education & Science, the Ministry of Knowledge Economy and the Ministry of Health & Welfare. It is the largest new drug development project in Korea, and aims to construct 10 new drug development systems and advance a new drug development R&D investment platform.  

[Press Release] KRICT-KDDF sign MOU for supporting new drug development

KRICT-KDDF sign MOU for supporting new drug development□ The Korea Research Institute of Chemical Technology (KRICT, Director Jaehyun Kim) and the Korea Drug Development Fund (KDDF, CEO Dongho Lee) signed an MOU for mutual cooperation on October 12 (Fri.) at the KRICT meeting room.○ Under the MOU, the two bodies pledged to discuss the strategic construction of a basic & industrial translational research system to support new drug development through the establishment of a system for systematic cooperation between the two institutes.○ Translational Research is an integrated research development strategy that is now being globally emphasized in new drug development. In order to identify disease-specific targets and models and apply these to clinical tests, basic researchers, pharmaceutical companies and clinical researchers cooperate from the initial stage of new drug development.○ Both institutes will specify the details of the cooperation, including system construction and business development, planning and promotion for basic-industry translational research, research cooperation systems construction for innovative target material optimization and academic conferences such as a new international drug development seminar for risk sharing.  □ KRICT is the only government funded research institute for the chemical area in Korea, and has made efforts to strengthen Korea’s capacity for new drug development based on the capacity and infrastructure it has accumulated over more than 20 years of experience. The KDDF is a government-wide project team involving the Ministry of Science & Technology, the Ministry of Knowledge Economy and the Ministry of Health & Welfare, and aims to construct 10 new drug development systems and advance a new drug development R&D investment platform. □ Speaking about the MOU, Jaehyun Kim, Director of KRICT, said 'This MOU is expected to advance Korea’s development of new drugs that meet global standards through the combination of KRICT's 20 years of experience in new drug research, with the Korea Mixed Material Bank and new drug platform technology infrastructure combined with the KDDF's whole cycle of R&D support for new development.' □ Dongho Lee, CEO of the KDDF, said 'The KDDF is establishing various domestic and international channels for promoting Korea’s development of new drugs that meet global standards,' adding 'We expect that Korea can compete with advanced countries in new drug development through systematic cooperation with special institutes.' Appendix: 2 Photos of the MOU signing   (Left) Dongho Lee, CEO of the KDDF, (Right) Jaehyun Kim, Director of KRICT     KRICT PR: Dept. Science Spread Team, Team Head Wooyoung Oh (☏ 82-42-860-7823, 010-3436-8677)KDDF Management Support Team Jeongsuk Shin (☏ 82-2-361-3605, 010-4811-5482)