More Korean firms join U.S. Cancer Moonshot project

A total of twelve South Korean pharmaceutical and biotechnology companies are participating in the U.S. Cancer Moonshot initiative.

According to industry sources on Sunday, companies including GC Cell Corp., HLB Co., Lunit Inc., Prestige Biopharma Ltd., LabGenomics Co., NgeneBio Co. Ltd., BL Science Corp., Gencurix Inc., Cubebio, EONE Diagnomics Genome Center Co., and Cytogen Inc. have joined the ambitious program to date.

The Cancer Moonshot project, initiated during the presidency of Barack Obama, is a commitment to provide comprehensive national support for cancer prevention, early detection, and therapeutic medicine development. The project’s goals were further amplified by the incumbent Biden administration, which aims to reduce cancer-related mortality by over 50 percent in the next 25 years. The U.S. government plans to allocate an annual budget of $1.8 billion towards the project, focusing on digital innovations across all areas of oncology.

Renowned cancer centers, such as MD Anderson, and global information technology (IT) giants, such as Intel and Amazon, are also participating in the project.