The KPBMA promotes of co-development of COVID-19 treatments

On the 21st, at the meeting of the board of directors, it was agreed to conduct joint investment and joint development.

Started to prepare detailed measures such as joint ventures and expansion of public and private joint funds

The KPBMA promotes joint development of COVID-19 treatment.

 

This is the first 'co-investment and joint development' method among member companies.

 

The KPBMA held a board of directors meeting on the 21st to discuss this.

 

Participants decided to aggregate their competencies at the industrial level, not individual companies, based on the prospects of domestic and foreign experts that another COVID-19 outbreak would occur frequently.

 

In addition, they considered ways to establish joint ventures with co-investments by companies and to establish private and public joint funds such as the European IMI (Innovative Medicines Organization).

 

In the future, if the KPBMA materializes joint investment and joint development plans through consultation with related experts, the industry will actively participate.

 

An association official said that the joint R&D situation among member companies for developing new drugs is more mature than ever before, and they agreed that it is necessary to change the concept of sharing profits if profits arise and sharing risks if they fail for new drugs.

 

Chairman Hee-mok Won emphasized, "In order to overcome a crisis that can be repeated in the future, such as COVID-19, a revolutionary idea change is needed.

 

The cross-border energy with joint research and development efforts of the industry and full support from the government must be brought together."