Astellas Pharma Inc.announced that it has agreed on a memorandum of understanding (“MoU”) with the Korea Institute of Startup and Entrepreneurship Development (President: Jong-pil Yoo, “KISED”), an umbrella organization of the Ministry of SMEs and Startups, a Korean Government Agency, for the operation of the Partnership with Global Companies Program, which aims to identify Korean drug-discovery startups and support their business growth and global expansion.
Under the terms of the MoU, KISED will provide overall management and research funding for the Partnership with Global Companies Program. Astellas will provide Korean drug-discovery startups, which are selected together, with KISED with access to laboratory and office space at SakuLabTM-Tsukuba, located on the premises of the Astellas Tsukuba Research Center. Startups residing in SakuLabTM-Tsukuba will not only receive support through consultations with Astellas experts in various fields, but will also be able to accelerate their drug discovery research by leveraging networks with fellow residents and Astellas researchers.
Through this program, two Korean pharmaceutical and biotech startups—TCUBEiT Inc. (a next-generation T-cell-based immunotherapy developer) and AAVATAR Therapeutics (specializing in AAV viral vector engineering technology)—have been selected. They will begin full-scale collaboration by moving into SakuLab™-Tsukuba.
Tadaaki Taniguchi, M.D., Ph.D., Chief Research & Development Officer (CRDO) of Astellas
“We are very pleased to agree on a MoU with KISED for the Operation of the Partnership with Global Companies Program. In today's world, where new drug discovery ideas and technologies are emerging one after another, Diverse perspectives, expertise and experiences are essential to turning innovative ideas and technologies into VALUE for patients. Astellas is committed to fostering innovation in collaboration with startups by providing knowledge and expertise we have gained through our research and global network. We expect that the signing of this MoU will further strengthen and accelerate drug discovery research together with Korean startups, ultimately contributing to the creation of innovative medical solutions.”
Jong-pil Yoo, President of KISED
“This agreement will serve as a significant opportunity to accelerate the global expansion of promising Korean startups in the bio and pharmaceutical sectors through strategic collaboration with Astellas, a global pharmaceutical company. In particular, as new drug development requires a high level of expertise and infrastructure, this program—enabling startups to leverage Astellas' research assets and global network directly—is expected to provide substantial support for their growth. KISED will continue to strengthen its partnerships with global corporations to ensure that Korean startups can enhance their competitiveness in the global market.”
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