Large Molecule

AstraZeneca invests in Korea biohealth

Jun 17, 2019

AstraZeneca has promised to invest $630 million into Korea’s biotech and healthcare sector over the next five years.

The drugmaker's investment, announced at the Korea-Sweden Business Summit, will be spent on R&D, better accessibility to innovative healthcare services, and quality jobs in the biohealth sector from 2020 to 2024.

AstraZeneca also signed a letter of intent with Korea Trade-Investment Promotion Agency (KOTRA) and Korea Biotechnology Industry Organization (KoreaBIO) with the goal of cooperating for open innovation and new drug development, providing consultations for start-ups, finding ways to utilize next-generation medical technologies using artificial intelligence or IoT and searching for opportunities for Korean firms to enter overseas markets.

Read the Korea Biomedical Review coverage.

Don't miss your Daily Dose. Sign up to get news like this delivered right to your inbox.