K-Bio Lab Hub, Japan's iPark to jointly support bio startups

South Korean Ministry of SMEs and Startups announced on Friday that it has reached the previous day an agreement with Japan's iPark Institute during the Minister's visit to Japan to foster cooperation between Korean and Japanese bio clusters and discuss detailed support measures for nurturing advanced bio startups.

iPark Institute is an innovative cluster created by the global company Takeda Pharmaceutical Company Ltd. to enhance exchange and collaboration by opening its own research center to universities and companies.

The institute possesses the largest facilities in the field of life sciences in Japan and has recently established itself as a symbol of innovative biotechnology after being spun off from Takeda.

Lee Young, Minister of SMEs and Startups, decided to pursue collaborative projects based on the recognition of the need for transnational cooperation for fostering the advanced bio-industry, following her meeting with Toshio Fujimoto, the general manager of iPark Institute.

The collaboration includes support for Korean advanced bio startups, joint planning and operation of open innovation programs and joint bio research between Korea and Japan.

First, Korean startups in advanced bio fields such as cell therapy and gene therapy will receive support for clinical test success in Japan, including facility occupancy within iPark, use of experimental equipment and clinical collaboration with local hospitals.

In addition, a joint open innovation program encompassing the digital biofield, which would enable Korean startups to generate results through collaboration with major Japanese companies such as Takeda Pharmaceutical, will be planned and participated in by organizations in both countries, with participating companies being selected jointly. Joint research with Korean startups will also be conducted to commercialize bio sector core technologies held by Japan.

K-Bio Lab Hub and iPark Institute will sign an agreement including these cooperation items by the third quarter of this year.

Write to Hyung-Chang Choi at calling@hankyung.com