GE Healthcare launches challenge program for small and mid-sized biotech firms in biopharmaceutical innovation

GE Healthcare launches challenge program for small and mid-sized biotech firms in biopharmaceutical innovation

GE Healthcare launches challenge program
for small and mid-sized biotech firms in biopharmaceutical innovation

  • GE Healthcare Life Sciences Korea’s program worth 2.5 billion won in total aims to help best applicants tackle challenges in production process of biologic products

  • Small biotech firms facing difficulties due to lack of development resources are candidates able to access GE products and technology through Fast Trak Center

 

April 16, 2018, Seoul – GE Healthcare Life Sciences Korea announced today a new challenge program to help small biotech firms address difficulties in developing a biopharmaceutical manufacturing process. The company will provide technical and resource support worth 2.5 billion won by the end of this year for the project.

The program aims to contribute to advancing the country’s biotech industry through expertise sharing and research support across the entire production process that encompasses cell cultivation, purification and screening, process optimization, process scale-up and sample production for non-clinical studies.

The main targets of this program are companies planning for the initial process development, those who need to optimize their process, or those who need improvement due to low process efficiency or plan to scale up production.

Selected applicants are eligible to receive professional consulting and support regarding process development, as well as training for research and development of biologic drugs at APAC Fast Track Center located in Songdo, Incheon, which is run by GE Healthcare at a global level.

The worldwide growth of biopharmaceuticals already outpaced that of pharmaceutical products and they are growing fast each year. In Korea, biopharmaceutical exports led by big biotech players such as Samsung BioLogics and Celltrion remain strong on the back of the government’s policy, but small and mid-sized biotech firms are still in need of technical support to build their capability to produce biologic products.

“In order to further expand the biopharmaceutical industry ecosystem, we need to make a leap forward through supporting small and mid-sized biotech firms with their process development challenges. This challenge program is designed to help drive their growth through GE’s ample experience and technology in the field of life science,” Francis Van Parys, President and CEO of GE Healthcare Korea.

GE Healthcare has built on its expertise and technology in life science since its acquisition of Amersham, a global life science company, in 2004. GE Healthcare Life Sciences whose annual sales reach about $4.6B (as of 2016) accelerates investments to push its vision of precision medicine into reality. In 2016, the company established APAC Fast Trak Center, the largest of such centers run by GE, in Songdo to train biotech professionals and help biotech firms develop a production process across the APAC region, including Korea.

For more information including how to apply for the program, please contact GE Healthcare Life Sciences Korea (ls.kr@ge.com).

#  #  #

About GE Healthcare

Harnessing data and analytics across hardware, software and biotech, GE Healthcare is the $19 billion healthcare business of GE (NYSE: GE). As a leading provider of medical imaging equipment, with a track record of more than 100 years in the industry and more than 50,000 employees across 100 countries, we transform healthcare by delivering better outcomes for providers and patients. Follow us on Facebook, LinkedIn, and Twitter or The Pulse for latest news. For more information, please visit www.gehealthcare.com.