November 28, 2024

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Yuhan USA CEO Yoon Tae-won speaks during an interview held on the sidelines of the JPMorgan Healthcare Conference in San Francisco on Monday. (The Korea Herald/Shim Woo-hyun)

By Shim Woo-hyun

Korea Herald correspondent

SAN FRANCISCO – South Korean pharmaceutical giant Yuhan is seeking to increase cooperation with researchers and biotechnology firms based in the US, with hopes to benefit from the nation’s abundant human resources and research opportunities.

“Yuhan might be a leading pharmaceutical company in South Korea, but in the US market, it is still an underdog,” said Yuhan USA CEO Yoon Tae-won during an interview held on the sidelines of the JPMorgan Healthcare Conference, the largest health care investment symposium, held in San Francisco on Monday.

Boston-based Yuhan USA was launched in 2018 as a wholly owned subsidiary of Yuhan, with the aim of discovering new drug materials along with new business and investment opportunities. Yoon, a researcher-turned-CEO, took on his current role in 2019.

In the all-important US market, Yuhan is pouring resources into building networks not only with biotech and pharmaceutical companies, but also with researchers and investors.

“The US has a lot more diverse options in terms of human resources and research opportunities when compared to South Korea,” Yoon said.

In May last year, Yuhan USA led an agreement between Korea’s Ewha Womans University and University of Cincinnati, in which both universities decided to cooperate on development of mRNA and lipid nanoparticle technologies.

The company also became a strategic limited partner of 5AM Ventures, a US-based venture capital firm that offers seed and early-stage investments to its clients consisting of biopharmaceutical, life science and medical technology companies.

“Being a member of a venture capital firm helps Yuhan to be exposed to the vibrant network of up-and-coming biotech startups in the US,” the CEO said. “We also hope to get more access to top-tier players in the industry.”

Currently, Yuhan USA is accelerating research work on some key areas, including anticancer drugs, non-alcoholic steatohepatitis treatment, and treatment of neurodegenerative diseases like Alzheimer's and Parkinson's.

During the JPMorgan Healthcare Conference this year, Yuhan will be holding over 50 meetings with investors and officials from pharmaceutical and biotech firms visiting San Francisco.

Yoon Tae-jin, Yuhan’s corporate strategy group executive director, said YH35324, an allergy treatment candidate under phase 1 clinical trials in Korea, could become the company’s next “blockbuster drug” after Leclaza, the company’s lung cancer drug licensed out for 1.4 trillion won ($1.2 billion) in 2018.

“We plan to license out the treatment if we secure phase 2 clinical data on the safety and efficacy,” he said. “We will share the potential of the drug during planned business meetings here.”

He added that the firm was also working on the US launch of Leclaza.

By Shim Woo-hyun (ws@heraldcorp.com)