India-Korea biotech companies to form more strategic partnerships

Bangalore, 16 July 2021: In a first of its kind meeting, 10 ABLE member companies and top biotech companies in South Korea shared their capabilities in the segments of vaccines, biologics, cell and gene therapy and Med-tech & genomics at a special session organized by the Indian Embassy in Seoul and Association of Biotechnology Led Enterprises (ABLE).

The participating companies were: Biocon, Syngene International, Stempeutics, Biocon Biologics, Dr Reddy’s Laboratories, Immuneel Therapeutics and Wockhardt from the Indian side and SK Biosciences, LG Life Sciences, Daewong Pharmaceutical and Lab Genomics from Korea. The meeting was part of the India-ROK Pharma and BioPharma CEO Conclave with the theme, “ Asia’s Potential of Leading the Global Supply Chain of Vaccines and Biologics.”

The meeting was addressed by Dr Kiran Mazumdar-Shaw, non-executive Chairperson of ABLE, Her Excellency Sripriya Ranganathan, Indian Ambassador to Korea and Dr Jerome Kim, director general of the International Vaccine Institute(IVI), based in Seoul and Dr P M Murali, president, ABLE Business Council. Other key participants were Dr Mahesh Bhalgat, coo of Syngene, Dr B N Manohar, CEO, Stempeutics, Dr Arun Anand, CEO of Immuneel, Dr Ahn Jae Yong, CEO, SK Bioscience Mr. Sengho Jeon, CEO of Daewoong Pharmaceutical, Mr. Jongsang Ryu, CSO of Affyxell Therapeutics (a sub-subsidiary company of Daewoong Pharmaceutical), and Mr. Yeongjin Lee, HOD of Daewoong Pharmaceuticals and Dr Jin SEoung Hyun, CEO of Lab Genomics.

Ambassador Ranganathan highlighted India’s business friendly and investor friendly policies and praised the efforts of Korean biotech companies that quickly launched Covid-19 related solutions to help the people. “ Indian companies will be happy to increase their collaboration with their counterparts who have adopted such nimbleness and benefit from the Korean focus on R&D and innovation,” she noted.

Indian Ambassador said both countries will strive to further enhance the relationship between the two industries to more strategic levels to develop more relevant solutions for the global public health sector.

Echoing similar sentiments, Dr Kiran Mazumdar-Shaw said with greater collaborations, indian and Korean biotech companies go build more capabilities and scale up their manufacturing capacities in pharma and biophama, cell and gene therapy segments to aim for regional dominance with their innovative products and then increase shares in the global markets together.

Dr Mazumdar-Shaw referred to the immense global level vaccine production capabilities of companies like Serum Institute, Bharat Biotech, Biological E, and Panacea and how these have come in handy to supply key vaccines to the world during the ongoing COVID-19 pandemic.

IVI’s Dr Jerome spoke in glowing terms about the collaborations the institution has with India’s Bharat Biotech and Shantha Biotechniques to develop and supply vaccine against infectious diseases. These companies have supplied millions of doses of key vaccines for the developing countries under international funding programs. IVI is now working with Bharat Biotech to develop a vaccine against Chikungunya, he said.

In his concluding remarks, Dr P M Murali, President, ABLE Business Council said ABLE and Indian Embassy in Korea plan to do more such meetings between biotech companies in both countries in the near future. Mr Swapnil Thorat from the Indian Embassy in Seoul coordinated the meetings.

10 top India and Korean biotech companies exchanged ideas, shared their capabilities and decide to form more strategic partnerships in a meeting jointly organized by ABLE and the Indian Embassy in South Korea

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