[Edaily Reporter NA EUN-KYUNG ] BioBook, an accelerator specializing in the pharmaceutical and biotech sectors, is setting out to identify biotech startups to partner with GCGreen Cross Corporation(006280)on its new business initiatives.

BioBook announced on the 26th that it has been selected as a participating firm in the GC Biopharma Corp. Open Innovation Project, organized by North Chungcheong Province and the Osong Advanced Medical Industry Promotion Foundation, and has begun providing consulting services for the entire matching process, including identifying candidate companies and coaching for investor relations (IR) presentations.

Open innovation is a strategy in which a company leverages technologies and ideas held by external companies or research institutions to develop new business ventures and new drug candidates. From a startup’s perspective, this approach offers the advantage of utilizing a pharmaceutical company’s R&D and commercialization capabilities to advance technology validation and commercialization.

Through this project, GC Biopharma Corp. plans to focus on: △ biopharmaceuticals (antibodies) for respiratory and gastrointestinal inflammatory diseases; △ antibody-based targeted anticancer drugs; △ messenger ribonucleic acid (mRNA) lipid nanoparticle (LNP)-based therapeutics; △ new treatments for diseases treated with intravenous immunoglobulin (IVIG) △ half-life extension technology based on antibody engineering △ artificial intelligence (AI)-based new drug development technology △ and new treatment technologies for obesity and metabolic diseases.

The selection process will consist of two stages. In the first evaluation, a panel of five judges—including GC Biopharma Corp. business managers—will select eight companies based on their alignment with business needs, the competitiveness of their technologies, and their commercialization potential. Subsequently, up to four companies will be selected through individual presentation evaluations.

The final selected companies will receive support from GC Biopharma Corp. in the form of technical consulting, proof of concept (PoC), joint research, and technology licensing. The cost for proof of concept is capped at 140 million won per company. If only one company is selected, the full 140 million won will be provided; if multiple companies are selected, the funding will be divided among them.

BioBook will provide technical feasibility reviews and support for the creation of investor relations (IR) materials to all applicant companies, regardless of whether they are ultimately selected. The eight companies that pass the first-round evaluation will be offered an in-depth acceleration program, including consulting to strengthen IR capabilities and networking opportunities with GC Biopharma Corp.

Startups wishing to participate in this program can apply via the Osong Advanced Medical Industry Promotion Foundation (KBIOHealth) website by September 9.

Hong Soon-jae, CEO of BioBook, stated, “This GC Biopharma Corp. Open Innovation initiative is not just a one-time event; we will continue to support ongoing matching efforts even after the program period ends.” He added, “We plan to lead the creation of a virtuous cycle in which domestic pharmaceutical companies commercialize innovative early-stage biotech technologies and nurture them into global blockbusters.”