Seoul to back clinical trials, fasten new drug pipeline

2021.06.10 15:44:32 | 2021.06.10 15:47:45

[Photo by Yonhap]이미지 확대

[Photo by Yonhap]

South Korea will promote testing professionals and clinical infrastructure to fasten new drug development and commercialization with a vision to become a bio powerhouse by 2030.

At the government’s cabinet meeting devoted to new growth led by innovation – mostly in chips, future mobility and bio and health – Thursday, deputy prime minister and finance minister Hong Nam-ki vowed to groom 1,600 in clinical trial field this year and 10,000 by 2025.

The government plans to back local companies’ global clinical trials by building a support center in Boston, U.S., the largest bio-cluster in the world. It will also earmark a total 2.2 trillion won ($1.97 billion) for new drug development and set up a bio-related policy fund to ease the financial burden of clinical testing procedures.

The government will employ ICT technology and infrastructure to establish a state-led platform to recruit volunteers for new drug testing to employ the data through AI analysis. It will establish networking with hospitals in the fields of five biggest diseases to promote clinical trials of new drugs.

By Lee Soo-min

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]