On the 7th, the Seoul Metropolitan Government announced that on the 6th, it signed three-party memorandums of understanding (MOUs) with Medytox, Mimetics, and Exolance at the Seoul Bio Hub Global Center (photo).
Medytox is the company that developed the so-called “Botox” botulinum toxin product, becoming the first in Korea and the fourth in the world to do so.
Mimetics and Exolance are promising startups selected by Seoul Bio Hub for their next-generation biomedical technologies. Mimetics possesses transdermal drug delivery system technology that enhances skin penetration efficiency through wearable patches, while Exolance holds a next-generation exosome-based drug delivery platform using shockwave technology.
Both Mimetics and Exolance will move into the Seoul Bio Hub Center and receive various forms of support through the three-party MOU.
Medytox presented ways to further advance the technologies held by Mimetics and others through consulting and joint research. Seoul Bio Hub will provide tailored support, including access to facilities and equipment, customized corporate growth programs based on systematic company assessments, consulting for technology commercialization, verification of domestic and international market development, and follow-up support for business expansion.
This collaboration marks the third public-private partnership initiated by the city, following open innovation programs with Celltrion and Daewoong Pharmaceutical launched last year.
Yong-tae Ju, Director of the Seoul Metropolitan Government’s Economic Affairs Office, stated, “This industry-government cooperation platform will serve as a new model to elevate Seoul’s bio-industry ecosystem to the next level. We will continue to provide multifaceted support to promising biotech companies with innovative technologies so they can achieve global competitiveness.”
Song Jinsik | truejs@kyunghyang.com
