2023-06-13 20:30:00
In Boston, one of the world’s leading bio clusters, attempts were made for domestic bio companies to enter the overseas market.
The ‘2023 Bio International Convention (Bio USA)’ held from the 5th to the 8th local time was attended by 544 domestic companies, and booth exhibitions as well as partnering were actively conducted.
This is a figure that has grown significantly compared to the attendance of 250 companies in Bio USA in 2022. The participation of domestic bio companies was so prominent that even a reporter attending Boston Bio USA felt that Korean might be heard throughout the exhibition hall.
The reason for the increase in the number of domestic companies participating in Bio USA was largely due to discussions on partnering rather than booth exhibitions.
In the case of bio-ventures, technology transfer of existing pipelines and some domestic pharmaceutical companies appeared to be looking for new candidates for pipeline expansion for research and development (R&D).
In this process, the part that many bio-ventures unanimously mentioned is ‘continuity’. In the meantime, continuity was emphasized in a different way from what has been mentioned a lot in support such as the government’s bio development in Korea.
A CEO of Bio, whom we met at the site, said, “I have been attending Bio USA Partnering for the second year, and the subjects I met last year were clearly aware of the fact that companies attended continuously. received,” he said.
It means that continuous discussions are needed to promote the company’s technology to the world stage and connect it to the outcome of license out. Most of the companies participating in Bio USA formed a consensus on this point.
It also means that the role of players as players is also important for the growth of the domestic biopharmaceutical industry, symbolized by K-Bio.
In terms of continuity, for example, how companies that participated with government support will attend the next BioUSA at their own expense remains a challenge.
There were no outstanding partnerships with bio companies at the Boston site. However, it is widely believed that the increased participation of domestic companies will be an important basis for forming ‘trust’ for future partnering.
Until now, the word continuity has been used a lot in government support for the development of the domestic pharmaceutical bio industry. It is also the view of experts that government support is an indispensable factor for the development of the domestic pharmaceutical bio industry, which is a latecomer. But now, it seems that companies will need to make efforts to preserve continuity by themselves.
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