LSN Expands Global Footprint to the Pacific Rim with Korea Partnerships

25 Apr

By Claire Jeong, Director of Research, Asia BD, LSN

claire

As with last year, it is a great pleasure to announce Life Science Nation (LSN)’s partnership with Korea Trade-Investment Promotion Agency (KOTRA) in preparation for the Redefining Early Stage Investments (RESI) Philadelphia conference on Monday, June 3rd, 2019.

South Korea’s biotech ecosystem continues to thrive – recently, the government has announced that they will spend over $419M USD to support the pharmaceutical and biotech industry of South Korea, a remarkable increase from last year’s pledge of $328M USD (1). The number of venture capital firms focused on life science investments is continuing to increase and more companies are seeking opportunities to enter the global market, hoping to find key strategic partners and investors to support their growth. Major companies like LG Chem and Samyang Biopharmaceuticals has opened offices in Boston within the last year to foster open innovation, and the presence of Korean companies in biotech hubs like Boston will continue to grow.

This year, KOTRA, partnered with Korea Biotechnology Industry Organization (KoreaBIO), Korea Institute of Marine Science and Technology Promotion (KIMST), and Bluepoint Partners, has jointly established the “K-Startup Meetup 2019 Philadelphia” program. This program aims to showcase some of the most promising startup technologies from South Korea across key life science sectors (therapeutics, medical devices, diagnostics, digital health) and support their participation in the RESI Philadelphia conference. Among many applicants, the top 10 companies were selected to participate. The K-Startup Meetup program consists of multiple sessions, covering topics such as understanding the global market, effective partnering strategies, refining marketing collateral, and more.

Last week, I joined the very first session of the K-Startup Meetup program in Pangyo, South Korea, to introduce the RESI Conference to the participating startups. Another aspect of RESI that I covered included the “Korea Pitch Challenge”, a 50-minute session sponsored by KOTRA. During this session, participating Korean companies will present a short ~5 minute pitch followed by a ~5 minute Q&A session from a panel of investor judges, providing constructive feedback that will prepare them for future pitching opportunities.

On behalf of everyone in LSN, I am very excited to work with these organizations to help support the early-stage life science ecosystem in South Korea. Concurrent with the BIO International Convention, we anticipate RESI Philadelphia to be a highly global event as usual, and we hope you could attend to meet promising companies from South Korea and many, many more!

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