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| SK Bioscience's vaccine factory, Andong L House, in North Gyeongsang Province / Courtesy of SK Bioscience |
By Kim Hyun-bin
SK Inc. and its affiliates including SK biopharmaceuticals and SK pharmteco will hold a networking event to expand their partnerships in the U.S., the world's largest bio and pharmaceutical market.
SK Inc. announced that it will hold its SK Bio Night event on Jan. 11 at the Four Seasons Hotel in San Francisco. The meeting will be attended by 100 executives from over 50 companies including SK's global partners and investment companies. The goal of the event is to build a strong understanding of SK's current priorities and discover new opportunities in the U.S. market.
Newly appointed executives from SK Inc. and its affiliates are scheduled to attend the event including SK Inc. CEO and Vice Chairman Jang Dong-hyun, SK pharmteco CEO Joerg Ahlgrimm, SK biopharmaceuticals CEO Lee Dong-hoon and SK Bio Investment Center head Kim Yeon-tae.
They are expected to emphasize their respective companies' bio strengths and seek collaborations in the global biopharmaceutical sector by strengthening relations with investors and partners.
SK pharmteco has been bolstering its competitiveness in the cell and gene therapy (CGT) sector, an emerging growth market in the contract development and manufacturing organization (CDMO) business. Its CEO Joerg Ahlgrimm will unveil the company's business strategy as a global CDMO, along with its vision and competitiveness, to investors and partners at the event.
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| Kim Yeon-tae, head of SK Bio Investment Center |
Since entering the biopharmaceutical business, SK Inc. has been achieving impressive results in enhancing its competitiveness by adopting a robust localization strategy that focused on the development of new small-molecule drugs and the CGT CDMO business in the U.S. and Europe.
By consummating large cross-border transactions that include SK's acquisition of a plant in Ireland owned by Bristol Myers Squibb in 2017 (currently SK biotek Ireland) and of AMPAC Fine Chemicals of the U.S. in 2018, SK Inc. was able to scale up its biopharmaceutical business and secure strategically important production bases in the U.S. and Europe.
Through SK Bio Night, SK Inc. plans to explore various business partnerships and investment opportunities in the global market, including the U.S.
"SK strongly believes that establishing long-term partnerships is integral to realizing the company's mission and vision. We wish to engage and create a strong connection with our existing as well as potential future partners by hosting SK Bio Night, with the goal of forging landmark opportunities in key markets such as the U.S. and Europe," said Kim Yeon-tae, head of SK Bio Investment Center. "We are excited to share our impressive growth trajectory with our global partners and investors."
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