[Bio USA] Biotech firms compete to fill void of Chinese rivals at Bio USA
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The Korea Biotechnology Industry Organization and Korea Trade-Investment Promotion Agency together with the Trade Ministry opened its Korea Pavilion at the Bio International Convention on Monday to support small to mid-sized firms in attracting new business partners.
This year is the largest-ever operation of a Korean pavilion with 26 participating firms and two institutions installed in the pavilion zone. Among some 20,000 industry officials participating globally, over 1,000 are affiliated with Korean firms.
The US Congress' BioSecure Act, which is likely to restrict further transactions with Chinese bio companies, has heightened tensions between the US and China. This was evident at this year's Bio USA, where Chinese firms were notably absent.
"With the Japanese market actively participating in capitalizing on the risks posed by China, the bio industry has transcended the private sector, now becoming a matter of national agenda," said Lee Seung-kyou, vice president of the Korea Biotechnology Industry Organization, at the Korea Pavilion on Monday. "One of the keynote speakers at this year's event is a former military general, which implies the growing importance of biosecurity and bio-sovereignty that the Korean government should consider," he added.
In regards to recent trends in the bio sector, Lee added that while CDMO remains in constant demand, obesity treatments and new drug development using AI are rapidly gaining attention. "Whatever type the manufacturing or developing process, ensuring sustainable supply processes along the way, such as white bio and green bio, is also a critical challenge in partnering with the United States and Europe," Lee explained.
Major industry players such as Samsung Biologics, Celltrion, Lotte Biologics and SK Biopharmaceuticals set up their own booths at the conference to showcase their CDMO capabilities.
Upon entering the Samsung Biologics booth, visitors will notice a circular and square interior design that reflects Samsung Biologics' philosophy of enriching life with technology, represented in a space embodying stem cells.
One side of the booth features a Terra Carta certification mark, highlighting the company's commitment to sustainable management. Notably, Samsung Biologics is the only Korean company and the only CDMO service specialist part of the Sustainable Markets Initiative.
James Choi, executive vice president and head of Sales Support and Global Public Affairs at Samsung Biologics, mentioned that while many are familiar with Samsung Biologics as a manufacturing company, fewer know that the firm is also a developer. "We created this new slogan, 'Agile, Flexible, Focused on You,' to inform both large and small biotech firms about our development capabilities," Choi said.
A content wall in the booth showcases Samsung Biologics' innovation and performance with the blueprint of the company's upcoming Plant 5. Set to be completed in April next year, Plant 5 has already hosted over 90 meetings for potential clients and stakeholders, the firm explained.
Meanwhile, biosimilar giant Celltrion said that it plans to hold one-on-one meetings with over 150 companies throughout the event.
On the first day alone, more than 500 industry officials visited Celltrion's booth, doubling last year's number.
"We plan to actively engage with potential partners across various fields, including follow-up biosimilar pipelines, ADCs, new antibody drugs, open innovation projects and global bio cluster networks," a Celltrion official said.
By Kim Hae-yeon(hykim@heraldcorp.com)
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