November 28, 2024

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SK Group headquarters in Jongno-gu, central Seoul (SK Inc.)

SK Inc., the investment arm of SK Group, said Tuesday it will co-host a networking event with the group’s biopharmaceutical affiliates including SK biopharmaceuticals and SK pharmteco to expand its global partnerships in the US, the world’s largest bio and pharmaceutical market.

The event, titled “SK Bio Night,” will take place at the Four Seasons Hotel in San Francisco on Wednesday. About 100 executives from some 50 companies -- including SK’s biopharma firms, the group’s global partners and investment companies -- will attend the meeting, the SK officials said.

SK Inc. Vice Chairman Jang Dong-hyun, SK biopharmaceuticals CEO Lee Dong-hoon, SK pharmteco CEO Joerg Ahlgrimm and SK Bio Investment Center head Kim Yeon-tae are set to attend Wednesday’s event. They will present how their companies are building thriving businesses in the global biopharmaceutical sector, according to the SK officials.

“To forge landmark opportunities in key markets like the US and Europe, we wish to build stronger connections with our existing and potential future partners at SK Bio Night,” SK Bio Investment Center's Kim Yeon-tae said.

“We are excited to share our impressive growth trajectory with our global partners and investors.”

While the US and Europe markets account for 95 percent of SK pharmteco’s global customer base, SK Inc. hopes to explore various business partnerships and investment opportunities in the global market through the event.

To enhance competitiveness, SK Inc. has adopted a localization strategy focusing on the development of new small-molecule drugs and the Global Cell and Gene Therapy and Contract Development and Manufacturing Organization (CGT CDMO) business in the US and Europe.

Last year, SK Inc. entered the CGT CDMO business by acquiring France-based Yposkesi through SK pharmteco. SK’s investment arm became the second-largest shareholder of the Center for Breakthrough Medicine this year.

By Jie Ye-eun (yeeun@heraldcorp.com)