Key Takeaways
- The Seoul Metropolitan Government has partnered with Samsung Bioepis to support biotechnology startups.
- The initiative, part of the 2026 Seoul Bio Hub-Samsung Bioepis Open Innovation Program, focuses on drug technology discovery.
- Selected startups Fraser Therapeutics and Bionsight will receive tailored support for their innovative biotech platforms.
Seoul-Bioepis Collaboration
Seoul is collaborating with Samsung Bioepis to foster biotechnology startups that focus on next-generation drug technologies. On Wednesday, an agreement was signed to launch the 2026 Seoul Bio Hub-Samsung Bioepis Open Innovation Program, marking a significant step in enhancing the city’s biotech landscape.
The signing ceremony took place at Samsung Bioepis’ headquarters in Songdo, with key representatives from the Seoul government, Samsung Bioepis, and selected startups in attendance. This initiative aims to link emerging biotech firms with established pharmaceutical companies to promote innovative technology and expedite the development of new drug pipelines.
This partnership broadens the existing open innovation network in Seoul, which already includes major players like Celltrion and Daewoong Pharmaceutical. Samsung Bioepis is well-regarded for its expertise in developing antibody-based biosimilars and has begun exploring new avenues, including antibody-drug conjugates and gene therapies.
Two promising startups were chosen after a competitive evaluation process. Fraser Therapeutics is recognized for its targeted protein degradation platform, which links small-molecule drugs to specific proteins for controlled breakdown. Bionsight, on the other hand, utilizes an AI-driven chemoproteomics platform that employs mass spectrometry to analyze drug interactions with various proteins within cells.
Both selected companies will receive a customized support package over the next year. This includes assistance with technology development, business consulting, and mentorship from both Samsung Bioepis and Seoul Bio Hub. Samsung Bioepis will leverage its experience in biotech drug development to guide the startups, while Seoul Bio Hub will provide access to research facilities, office space, accelerator programs, and investment opportunities.
The Seoul government aims to enhance the local biotech ecosystem by forming additional partnerships and creating collaborative opportunities. According to Cho Hye-jung, Seoul’s Creative Industry Planning Officer, this initiative is particularly significant as it marks the inaugural collaboration between Seoul Bio Hub and Samsung Bioepis. Cho emphasized the city’s commitment to strengthening partnerships with global firms to further develop Seoul’s biotechnology sector and foster growth for startups.
The content above is a summary. For more details, see the source article.