GE Healthcare Korea launches ₩2.5-bil. program to foster biotech

Marian Chu  Published 2018.04.16  11:45  Updated 2018.04.16 11:45


GE Healthcare Life Sciences Korea said Monday that it would provide 2.5 billion won ($2.33 million) in technical and resource support to small- to medium-sized biotech firms that need help developing a biopharmaceutical manufacturing process.

Big biotechnology firms such as Samsung BioLogics and Celltrion primarily dominate Korea’s biotech industry and benefit from government policies that back their businesses. In this industrial environment, GE noted that small- and medium-sized biotechnology firms need technical support to build capability and produce biologics.

The company said it launched the program to lend expertise and research support through the whole production process, which encompasses cell cultivation, purification and screening, process optimization, process scale-up, and sample production for non-clinical studies. The aim is to advance Korea’s biotech industry, GE added.

“To further expand the biopharmaceutical industry ecosystem, we need to leap forward by supporting small and mid-sized biotech firms’ process development,” said Francis Van Parys, president and CEO of GE Healthcare Korea. “This Challenge Program is designed to help drive their growth through GE’s ample experience and technology in the field of life science.”

Notably, GE will provide consulting and support on process development to selected applicants. The global healthcare firm will also offer training sessions for researching and developing biologic drugs at GE Healthcare’s APAC Fast Track Center located in Songdo, Incheon, South Korea – a facility used to train biotech professionals and firms improve a production process across the APAC region.

Korean biotechnology firms planning on initial process development, optimizing processes, or looking to improve their operations may apply, the company said.

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