A platform was established to assess the growth and potential of the Korean biotech industry from a global investor perspective, alongside sharing investment trends in innovative therapies within the global investment market. On May 8th, South Korean and international venture capital (VC) representatives provided insights into the outlook for the Korean biotech industry and global bio investment market trends at the 'BIO KOREA 2024' Invest Fair, jointly organized by the Korea Health Industry Development Institute and Chungcheongbuk-do and sponsored by the Ministry of Health and Welfare (MOHW).

Chris Picariello, CEO of Johnson & Johnson Innovation (JJDC), stated, "Korea is witnessing innovation across various domains such as small molecules, monoclonal antibodies, and diverse biosimilars," highlighting, "The high level of scientific and technological innovation facilitates project execution. However, certain areas, like venture capital investment, still lack maturity in the ecosystem." He further elaborated, "The JJDC team is actively involved in strategic partnerships at early stages, expertise in deal-making, acceleration and incubation through the global incubator JLABS, and equity investments through JJDC."

Additionally, Picariello mentioned, "The MOHW entered into a memorandum of understanding (MOU) with JJDC in late March to bolster global cooperation in the biotech and healthcare sectors." Commenting on this collaboration, he explained, "JLABS' global capabilities are being leveraged by MOHW to enhance the competitiveness of Korean biotech and medtech companies." Picariello emphasized, "Through this agreement, JLABS will support innovative drug discovery and medical solutions for early-stage companies based in Korea." He further added, "To foster employment and commercialization of South Korean early-stage companies, we will collaborate with innovators and strategic partners."

Following Chris Picariello's remarks, Ari Nowacek, Managing Director of ARCH Venture Partners, and Hyun-Sik Moon, Managing Partner of Premier Partners, shared insights into the investment value and trends of innovative therapies in the global investment market. Nowacek stated, "ARCH Venture Partners has invested in over 325 companies to date, focusing primarily on early-stage innovative enterprises spanning various life sciences areas, including diagnostics and therapeutics." He continued, "Our company constructs portfolios by capitalizing on scientific breakthroughs and various facets."

Among the technology trends highlighted by ARCH Venture Partners at this Invest Fair are antibody-drug conjugates (ADC), targeted protein degradation (TPD), multi-specific antibodies, small molecules, artificial intelligence (AI)-based drug development, cell therapies, gene therapies, and AI diagnostics.

Moon, Managing Partner of Premier Partners, mentioned, "We have collaborative areas with ARCH Venture Partners, having signed a business agreement with them in 2017." He added, "While Premier Partners independently makes investment decisions, our collaboration with ARCH Venture Partners in the life sciences field has provided us with a deeper understanding of the U.S. market."

Moon expressed, "I believe TPD will emerge as a significant drug category following ADC," noting, "Companies like Orum Therapeutics and Ubix Therapeutics lead the TPD domain. As both companies are currently in Phase 1 clinical trials, they exhibit global competitiveness." He also outlined future biotech investment plans, stating, "We established our third bio-specialized fund with ARCH Venture Partners on December 15 last year, with the second closing scheduled for June this year. We anticipate raising $120 million in funds," stressing, "Our entire fund will be dedicated to the life sciences sector, with 80% allocated for investment in South Korean biotech."