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People

Vice minister Goo reviews national new drug development results, says AI will speed innovation

Goo Hyeok-chae (구혁채), first vice minister at South Korea\'s Ministry of Science and ICT, held a meeting on Monday at the National New Drug Development Project unit in Seoul to hear strategies for generating results from the unit and supported companies. The visit marked the 21st step in the government’s Project Empathy 118 initiative for field-focused science and technology policy. Goo said the programme would strengthen performance-based support in phase two and actively use AI.

Industry

AimedBio secures tech transfer and establishes foothold on KOSDAQ, backed by government drug development support

South Korea\'s Ministry of Science and ICT said on Wednesday that AimedBio, which grew with step-by-step government support for new drug development, has established itself in the KOSDAQ market as a successful case of commercialising public research. The company developed next-generation targeted cancer drugs using antibody-drug conjugate technology. It signed a technology transfer contract worth about 1.4 trillion won and recorded a market capitalisation of about 2.8 trillion won on its KOSDAQ listing day.