Daejeon: The New Hub of the K-Bio Industry
The scale of domestic biotech exports has rapidly grown from 5 trillion won in 2018 to 16 trillion won in 2022, attracting global attention. Amid this growth, Daejeon is quickly emerging as a new hub for the bio industry.
Global Competitiveness of Daejeon's Bio Industry
Daejeon's biotech companies are rapidly growing based on innovative technology and global partnerships. They are developing platform technologies focused on treating intractable diseases and improving drug delivery systems, gaining recognition through collaborations with international pharmaceutical companies such as Merck, Janssen, and Eli Lilly.
Daejeon's Biotech Companies Gaining Global Attention
1. ALTEOGEN Inc.
Alteogen Inc. is gaining significant attention with its Hybrozyme™ technology for converting biopharmaceuticals into subcutaneous (SC) formulations. From 2019 to 2021, the company successfully transferred technology worth 6.4 trillion won to multinational pharmaceutical companies. Notably, through a contract with global pharmaceutical company Merck (MSD), Alteogen achieved significant success with annual royalty income exceeding 1 trillion won.
2. LigaChem Biosciences Inc.
LigaChem Biosciences Inc. has developed Antibody-Drug Conjugate (ADC) technology, a next-generation anticancer treatment that binds drugs to specific target antigens to destroy cancer cells while minimizing side effects on normal cells. The company recently signed a technology transfer contract worth 2.2456 trillion won with Belgian pharmaceutical company Janssen and secured a 470 billion won investment from Orion, demonstrating its global competitiveness.
3. PEPTRON
Peptron, which developed the PT105 leuprolide injection, is strengthening global cooperation by signing a 'Platform Technology Evaluation Agreement' with Eli Lilly in October 2023.
4. BIOORCHESTRA Co., Ltd.
BIOORCHESTRA Co., Ltd is a company that has developed Brain-targeted Drug Delivery System technology (BDDS™) based on brain-targeting polymers. BDDS can encapsulate and deliver various gene therapies, enabling the development of treatments for various degenerative brain diseases. The company is pursuing new drug development through technology transfer contracts and collaborations worth $861 million with global pharmaceutical companies.
5. GenKOre
GenKOre, a gene editing specialist, has developed 'TaRGET,' an ultra-small gene editing platform technology to develop gene editing therapies for rare diseases. The company achieved success in the global market by transferring its TaRGET technology to a Boston-based pharmaceutical company for 450 billion won.
Daejeon's Leap as a Specialized Bio Cluster
In June, Daejeon was selected as a national advanced strategic industry specialized cluster in the biofield. Daejeon has the advantage of an open innovation ecosystem linking industry, academia, research institutions, and hospitals and is further strengthening its global competitiveness through government institutional and financial support.
The Future of Daejeon's Bio Industry
Daejeon's biotech venture companies are showing potential to grow into a world-class bio cluster based on innovative technology and global achievements. This means they have the capacity to play a leading role in the worldwide bio market beyond simple technology exports. Looking ahead, Daejeon is expected to establish itself as the center of Korea's bio-industry, with Daejeon's biotech companies becoming a key driving force in innovative drug development and biotech advancement.