Prestige Biopharma IDC CEO Sang-Seok Koh Receives Presidential Commendation

Prestige Biopharma IDC CEO Sang-Seok Koh Receives Presidential Commendation

Prestige Biopharma IDC announced on the 6th that its CEO, Sang-Seok Koh, received a Presidential Commendation at the “2024 Foreign Company Day” ceremony hosted by the Ministry of Trade, Industry and Energy. The event was held at the Grand InterContinental Seoul Parnas Hotel.

The “Foreign Company Day” event, now in its 24th year, recognizes foreign-invested companies and related organizations that have contributed to the Korean economy through investment promotion and job creation. Koh received the Presidential Commendation in the foreign-invested company category in recognition of his contributions to regional economic development and the advancement of the biotechnology industry through new drug development, including the establishment of the large-scale Innovative Discovery Center (IDC) in Busan.

The award is particularly meaningful as it comes shortly before the official opening of the newly completed IDC headquarters, scheduled for the 13th. Established in 2021 and constructed in the Myeongji district of Busan, the new 33,000 m² Innovative Discovery Center was completed after three years of development. The facility is expected to serve as a global drug development hub for antibody therapeutics and biosimilars, positioning Prestige Biopharma IDC as one of the largest pharmaceutical and biotechnology companies in the Busan region.

Dr. Koh is a recognized expert in antibody therapeutics with 88 research publications, including papers in SCI-indexed journals. He graduated from the Department of Microbiology at Seoul National University and obtained his Ph.D. in molecular genetics from the same university. He later conducted postdoctoral research at the Whitehead Institute for Biomedical Research at the Massachusetts Institute of Technology (MIT).

Throughout his career, Dr. Koh has held key positions including roles at LG Chem, LG Life Sciences in the United States, and as Director of the Antibody Therapeutics Research Center at the Korea Research Institute of Bioscience and Biotechnology (KRIBB). He also served as professor and dean of the College of Natural Sciences at Dong-A University.

Notably, in 2009 he was the first to identify the PAUF protein, which is overexpressed in pancreatic cancer. Based on this discovery, he led the development of the anti-PAUF antibody therapeutic PBP1510 and has been actively advancing its clinical development and commercialization, including related diagnostic technologies for pancreatic cancer.

Dr. Koh assumed the role of CEO of Prestige Biopharma IDC in March this year to lead the company’s next phase of new drug development alongside the establishment of the new research center.

Sang-Seok Koh, CEO of Prestige Biopharma IDC, said, “Receiving this prestigious recognition at the completion of our new research center is particularly meaningful. As reducing uncertainty throughout the R&D process requires a stable development environment, we will continue strengthening our systematic infrastructure through further investment and partnerships.”

Meanwhile, Prestige Biopharma IDC recently completed construction of its new headquarters and is preparing for its official opening on the 13th. Currently, approximately 80% of its 106 employees are researchers holding master’s or doctoral degrees, working on the development of 16 novel antibody therapeutics and 15 biosimilar pipelines. The new Innovative Discovery Center aims to accelerate development and create future value under the vision of becoming a “World-Class Bio R&D Center by 2030.”

Source: PharmNews( https://www.pharmnews.com)