FOR IMMEDIATE RELEASE
Feb. 21, 2025
MSS Hosts 2nd Korea-Japan Bio Ecosystem Roundtable in Tokyo
SEJONG – The Ministry of SMEs and Startups (MSS) convened the 2nd Korea-Japan Bio Ecosystem Roundtable in Tokyo, Japan, on Thursday, February 20. The event was chaired by Minister Oh Youngju of SMEs and Startups.
It was follow-up meeting "Plan to Create a Bio Venture Innovation Ecosystem," announced at the inter-ministerial meeting on strengthening industrial competitiveness on January 15. Leading pharmaceutical and biotech companies from Korea and Japan participated.
On the Korean side, six representatives from MSS-supported bio ventures attended, including PARK Hyun-sook, CEO of CeFo Co., Ltd., whose treatment was designated an orphan drug by the European Medicines Agency in January, and KIM Youngho, CEO of Edgene, which specializes in gene-editing technology.
From Japan, executives overseeing research, development, and open innovation, including Founding CEO Fujimoto Toshio of Shonan iPark, participated alongside major global pharmaceutical companies Takeda Pharmaceutical Company, Astellas Pharma, Sumitomo Pharma, and Mitsubishi Tanabe Pharma.
The participants reviewed the achievements of cooperation since the 1st Korea-Japan Bio Ecosystem Roundtable on May 10, 2024. Notable milestones include the admission of eight bio ventures to Shonan iPark for overseas validation, the establishment of an integrated promotional booth (K-Startup@Bio) at BioJapan (October 2024), a joint Korea-Japan bio venture IR session targeting world-class VCs in Boston (December 5, 2024), and the K-Bio Venture Partnering Conference on January 18, 2025, which facilitated collaboration between 58 domestic bio ventures and 21 Japanese pharmaceutical companies at Shonan iPark.
The participants acknowledged that new drug development is a complex, time-intensive process requiring extensive experimentation and validation, with a high risk of failure. To enhance success rates and minimize trial and error, they emphasized the necessity of division of labor and collaboration. In particular, they highlighted the importance of collaborative technology development in advanced fields such as cell therapy, gene therapy, and tumor microenvironments.
Minister Oh Youngju stated, “The pharmaceutical and biotech industry is a global sector that transcends borders, and close cooperation in the forward-looking and advanced bio field will be a valuable asset for future generations of both countries.” She further emphasized, “To strengthen the global leadership of Korea and Japan in the pharmaceutical and biotech sector, we will spare no effort in supporting the diversification of bio cooperation, fostering deeper exchanges and collaborations among companies, promoting joint research and development, and establishing joint funds.
That morning, Minister Oh met with Keiko Oishi, President of CMIC Co., Ltd., Japan’s largest Clinical Research Organization (CRO), to discuss partnerships that integrate the innovative ideas of Korean bio ventures with CMIC’s advanced clinical trial expertise. Additionally, she attended the Memorandum of Understanding (MOU) signing ceremony between the Korea SMEs and Startups Agency and CMIC to strengthen collaboration in the bio sector.