– Gyeonggi Bio Center Enters into an MOU for Technological Cooperation in the Bio & Pharmaceutical Industries with BIOCOM (San Diego, US)

* The Gyeonggi Bio Center entered into an MOU for technological cooperation in the bio & pharmaceutical industries with BIOCOM, a San Diego-based biotech-related association that covers the largest region of the US. This MOU is expected to significantly facilitate US market entry by pharmaceutical companies from the province and contribute to the globalization of those firms.

* Chairman Chae Yung-bog of the Gyeonggi Bio Center and Chief Vice President Ian R. Wisenberg of BIOCOM signed the agreement in the Conference Hall of the Gyeonggi Bio Center at 4:00 P.M. on May 21, 2008, where they agreed on technology transfer related to the pharmaceutical sector for the development of new medicines and the facilitation of mutual investments.

* Both organizations plan to conduct cooperative projects in diverse sectors. The expected projects include the Pharmaceutical Technology Seminar for the Development of New Medicines; Technology Transfer and Cooperative Projects; Strategic Partnerships in the Bio & Pharmaceutical Areas; and Mutual Investments of Pharmaceutical Firms in San Diego and Gyeonggi Province.

* Chairman Chae Yung-bog of the Gyeonggi Bio Center said, “The agreement enables us to secure a partner that will help Gyeonggi pharmaceutical firms to enter the US market more easily. We will continuously strive to improve the global competitiveness of the pharmaceutical firms in Gyeonggi Province.”

* BIOCOM is the biotech-related association that provides support to bio-engineering and pharmaceutical firms in the Southwestern area of the US. With a membership of more than 540 bio-engineering firms, it is recognized as the largest organization of its kind in the US, and supports strategic partnership building, capital raising, lobbying, technology transfer, and technological cooperation. Its member companies include many world-renowned pharmaceutical businesses and research organizations, including Pfizer (the maker of Viagra), and Biogen (a specialized bio-engineering company).