SK Biopharmaceuticals, LifeSci Venture Partners announce partnership for Open Innovation

Plans to increase global competitiveness and promote open innovation through venture capital partnerships

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SK biopharmaInnovative pharma company SK Biopharmaceuticals, Co., Ltd., has inked a pact with global life science venture capital firm LifeSci Venture Partners to collaborate on open innovation through a fund.

Primarily, the fund will invest in private healthcare companies developing novel therapies and innovative technologies.

Changho Yu, chief strategy officer of SK Biopharmaceuticals, said, ‘As a strategic investor in the fund, SK Biopharmaceuticals plans to enhance its global competitiveness by expanding its partnerships with promising ventures for further growth.’

He added that this partnership for open innovation is an important step forward that builds on our nearly three decades of research and development expertise.

According to Paul Yook, Partner & Chief Investment Officer of LifeSci Venture Partners, “We are pleased to start this new collaboration with SK Biopharmaceuticals, a company that shares our passion and commitment to bringing innovative solutions to the healthcare system.”

Combining expertise and corrections

He said that by combining their expertise and connections in the life sciences industry and beyond, they aim to help promising early ventures accelerate scientific breakthroughs and technological innovations.

Two innovative and approved medicines — cenobamate and solriamfetol have been developed by SK Biopharmaceuticals. Cenobamate was approved by the U.S. Food and Drug Administration (FDA), launching in May of 2020, and is being commercialised in the United States by the company’s subsidiary SK life science.

It also discovered and licensed-out solriamfetol, a treatment approved by the European Medicines Agency and the FDA. SK Biopharmaceuticals maintains the rights to develop and commercialise solriamfetol in 12 countries in Asia.

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(With inputs from The OnLook News Research Bureau)

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