Deal launches its first overseas open-innovation incubator program
Headquartes building of Samsung Bioepis.
Samsung Bioepis is partnering with ‘ATLATL’, Asia’s largest biotech incubation center, to foster promising ventures.
This marks the first instance of Samsung Bioepis directly pursuing an open innovation project with a specialized overseas institution. The move is interpreted as a strategic step to secure diverse therapeutic approaches (modalities) early on and strengthen its future competitiveness.
Samsung Bioepis announced on April 29 that it has signed a Memorandum of Understanding (MOU) for a global open innovation project with ‘ATLATL Innovation Center (ATLATL)’, a Chinese bio R&D and innovation platform company.
ATLATL is Asia’s largest ‘biotech incubation center’, connecting research collaborations between bio-ventures and global corporations to support technological innovation and accelerate commercialization. It currently operates hubs in major bio-clusters such as Beijing, Shanghai, Singapore, and Australia, providing shared laboratories, office spaces, and Contract Research Organization (CRO) services.
Through this agreement, Samsung Bioepis plans to select promising biotech companies and support their tenancy and research at the ATLATL Innovation Center to aid their initial growth.
Seo Min-jung, Vice President and Head of the Open Innovation Team at Samsung Bioepis, emphasized, “Global-level collaboration is essential for innovation in biotechnology. Through this partnership, we will be able to further accelerate the discovery and research of next-generation bio-technologies based on state-of-the-art infrastructure and expertise.”
Meanwhile, Samsung Bioepis has collaborated with various Chinese companies through partnerships in the past. In 2019, it signed consecutive partnerships with China’s 3SBio and C-Bridge Capital to pursue local clinical trials and commercialization in China for its anti-cancer and ophthalmic disease biosimilars.
Last October, the company signed a joint research agreement for ADCs with China’s Frontline BioPharma, accelerating its efforts to secure next-generation technologies, such as dual antibody-dual payload platforms, and to diversify its portfolio.
Choi Mun-hee
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