South Korea is emerging as a global leader in the life sciences sector, leveraging its robust biotechnology platforms and talent pool to drive innovation. Shaun Grady, Executive Vice President of Global Business Development at AstraZeneca, highlighted this during a press briefing at the 2024 Global Pharma-Biotech Open Innovation Week held at EL Tower in Seoul on November 20.

Since partnering with the Korea Health Industry Development Institute (KHIDI) in 2014, AstraZeneca has supported Korean oncology researchers through the KHIDI-AZ Oncology Research Support Program, funding four projects annually. These efforts underscore AstraZeneca’s dedication to fostering innovation within Korea's bio-health ecosystem.

“South Korea holds immense potential in pharmaceuticals and biotechnology,” Grady remarked. “Our team actively evaluates local biotech companies for opportunities that align with AstraZeneca’s goals. Through events like this, we aim to share our vision and explore partnerships that will help position Korea as a leader in the biotech sector.”

Grady also emphasized AstraZeneca's broader mission: “Beyond therapeutic development, we aim to contribute to sustainable healthcare systems. We look forward to working with the Korean government, companies, and other stakeholders to achieve mutual success.”

AstraZeneca is focusing on therapeutic modalities, particularly cell and gene therapies (CGT) and antibody-drug conjugates (ADCs). In December 2023, the company acquired Gracell Biotechnologies, a Chinese CAR-T therapy developer, for $1.2 billion, marking a significant step in strengthening its CGT portfolio.

Se-Hwan Jeon, Country President of AstraZeneca Korea, highlighted local collaborations, stating, “Medicines developed by SK Chemicals and Daewoong Pharmaceutical are distributed globally through our network. Additionally, we are actively partnering with AI-driven biohealth companies like Oncosoft and Humanscape to drive patient-centered innovation.”

Grady concluded by reaffirming AstraZeneca’s commitment to cell and gene therapy development. “We are exploring various options to enhance our expertise in this area,” he said. “AstraZeneca thrives on collaboration and remains committed to advancing global open innovation.”