Busan-Jinhae Free Economic Zone Commissioner Visits Prestige Biopharma IDC to Discuss Biopharma Industry Collaboration

Busan-Jinhae Free Economic Zone Commissioner Visits Prestige Biopharma IDC to Discuss Biopharma Industry Collaboration

Commissioner Park Sung-ho of the Busan-Jinhae Free Economic Zone Authority (BJFEZ) visited the Innovative Discovery Center (IDC) of Prestige Biopharma in Myeongji International New City, Busan, on March 3 to tour the research facilities and discuss cooperation strategies for advancing the biopharmaceutical industry and expanding into global markets.

During the visit, Commissioner Park met with IDC CEO Sang-Seok Koh and reviewed the center’s research and development infrastructure as well as its future vision. The meeting was also held to congratulate Prestige Biopharma IDC for receiving a Presidential Commendation at the “Foreign Companies Day” ceremony in November 2024.

The award recognized IDC’s contribution to regional economic growth and the development of the biopharmaceutical industry as the largest innovative drug research institute in Busan.

During the visit, Commissioner Park and CEO Koh discussed IDC’s key R&D activities, including the development of pancreatic cancer therapeutics and the global regulatory progress of the company’s biosimilar programs.

The two sides also emphasized the importance of open innovation in advancing the biopharmaceutical sector. They agreed that collaboration among universities, research institutes, hospitals, private companies, local governments, and other stakeholders is essential to strengthen the industry’s capabilities and achieve global competitiveness.

CEO Koh stated that Prestige Biopharma IDC is evolving into a global hub for innovative drug research, highlighting that the company’s pancreatic cancer antibody therapeutic currently under development is attracting attention as a potential first-in-class treatment capable of overcoming limitations of existing therapies.

Commissioner Park expressed his commitment to supporting IDC’s growth, stating that the authority will actively assist Prestige Biopharma IDC in expanding into global markets and developing a strong regional bio-cluster.

The Busan-Jinhae Free Economic Zone Authority noted that the visit serves as an opportunity to further strengthen cooperation with Prestige Biopharma IDC and enhance the global competitiveness of the regional biopharmaceutical industry.

Source: Minju Newspaper (https://www.iminju.net/news/articleView.html?idxno=123615)