INVESTMENT

IFEZ Signs Agreement with Medicen to
Cooperate on Bio Ecosystem Development



Foundations Laid for European Biotech
Companies to Expand into the IFEZ

 

On October 14, as IFEZ Commissioner Lee Won Jae and Medicen General Manager Olivier Fontaine watched on, the IFEZ and Medicen signed an agreement on cooperation for the development of an ecosystem for the biotechnology industry. Medicen was established in 2005 as part of the efforts to develop, execute, and support plans to build a Bio Cluster in Paris. It has grown to support around 450 biotechnology companies, including Sanofi and other major enterprises.

 

The agreement paved the way for the IFEZ to attract innovation-oriented biotechnology companies in Europe’s biotech and medical industries. The IFEZ’s goal to serve as a global biotechnology hub is also expected to gain momentum thanks to the agreement.
The IFEZ considers the agreement to be an opportunity to meet the demands of the Songdo Bio Venture Cluster in terms of major businesses and venture enterprises in the biotech and medical industries. In addition, it expects the partnership to upgrade Incheon Bio Health Valley by making it easier than ever to share technologies with European biotech companies in creating a better ecosystem and cooperating for the expansion of business in their respective markets.

 

Invited to take part in the signing ceremony were companies in industries related to cell and gene therapy, precision medicine, and bio pharmaceuticals in Germany, Greece, France, the Netherlands, and Sweden, such as Biovista, ibidi, SIRION Biotech, TherapySelect, Oncodesign, Scinus Cell Expansion, NDA Group, and NextCell Pharma. Six Korean companies from the Songdo Bio Cluster, including Voronoi and SCM Lifescience, also participated in the event, hoping to expand their global networks.
Representatives from Medicen, along with European biotech companies seeking to expand their businesses into Korea, also visited Samsung BioLogics and Binex, participated in a seminar hosted by the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), and visited the Korea Biotechnology Industry Organization (KoreaBio) and Lee Gil Ya Cancer and Diabetes Institute.

 

Speaking at the event, Commissioner Lee said, “Today is significant in that we are laying the foundations for mid-to-long-term investments from Europe’s biotech companies by signing this agreement and expanding networks. With this, the IFEZ will do its best to grow into a global biotechnology hub.”

IFEZ Signs Agreement to Vitalize R&D
Activities in Songdo Bio Cluster

On September 30, the IFEZ and the Korean Pain Mechanism Research Society signed an agreement for R&D activities in the Songdo Bio Cluster and agreed to co-host this year’s Asian Pain Symposium, one of Asia’s major international pain research meetings, in Songdo International City from December 5 to 7.

 

The IFEZ expects the agreement to become a major example of its efforts to expand R&D activities. As part of the efforts to promote the Songdo Bio Cluster, the IFEZ has been putting its energy into the expansion of R&D activities and services, in addition to strengthening competitiveness in the processing sector. It has also been hosting international academic conferences for Korean and international scholars to participate in, while offering opportunities for academics, companies, and organizations based in the city to collaborate, further promoting its image as an “R&D-oriented city.”
As the only Korean organization specifically for experts of fundamental research on pain, the Korean Pain Mechanism Research Society conducts joint studies by sharing the latest research data and offering opportunities for fundamental and clinical researchers, including those from the Korean Pain Research Society (Korean Chapter of the International Association for the Study of Pain), to work together.

 

The Asian Pain Symposium is one of the major international academic conferences for pain researchers in Asia. Held in major cities across the continent, the biennial event serves as a venue for 300-500 experts to gather together and share knowledge. The Korean Pain Mechanism Research Society reserves all rights to the organization of the Asian Pain Symposium in Korea. It has agreed to work with the IFEZ in co-hosting the 8th conference in Songdo.
IFEZ Commissioner Lee Won Jae said, “Several tenants in the Songdo Bio Cluster are producing outcomes in a variety of research areas, such as the Korea Polar Research Institute, Lee Gil Ya Cancer and Diabetes Institute, Celltrion, and Samsung Bioepis. We will take advantage of their unique capabilities to offer a venue for Korean and international experts to share their knowledge and develop Songdo International City into a major biotech R&D hub.”

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