Samsung Biologics announced on Tuesday that it has forged an open innovation partnership with American pharmaceutical giant Eli Lilly to nurture promising domestic biotech firms.
Under this agreement, the two companies will establish a new hub for Lilly Gateway Labs (LGL) in Songdo International City, Incheon.
This collaboration marks a groundbreaking initiative, as it’s the first time a global pharmaceutical company’s high-caliber open innovation program has partnered with a Korean firm to enter the country. It also represents LGL’s second international base after China.
LGL, launched by Lilly in 2019, is a global open innovation program designed to identify and cultivate outstanding biotech companies.
The program offers comprehensive support crucial for the growth of emerging biotechs, including cutting-edge facilities such as office spaces and laboratories, as well as research and development (R&D) collaboration, mentoring, direct investments, and assistance in securing external funding.
As LGL directly selects biotech firms with exceptional potential for investment and collaborative research, this partnership is expected to significantly expand global market opportunities for promising Korean biotechs.
The new LGL hub will be located within the C-Lab Outside, a new open innovation center set to be completed in 2027 at Samsung Biologics’ second bio campus in Songdo, Incheon.
Both companies plan to jointly oversee the selection and development of 30 resident companies at C-Lab Outside, while also pursuing various collaborations to energize the K-Bio ecosystem.
Through this partnership, they aim to leverage LGL’s world-class open innovation capabilities to elevate C-Lab Outside’s biotech nurturing capacity to global standards.
C-Lab Outside, currently under construction, is slated for completion in July 2027. The five-story facility will boast a total floor area of 12,000 square meters (approximately 129,167 square feet).
John Rim, Chief Executive Officer (CEO) of Samsung Biologics, stated that this collaboration with Eli Lilly will provide a springboard for promising domestic biotechs to grow, tapping into the exceptional open innovation capabilities of a global pharmaceutical leader. They’re committed to fostering sustainable growth in the K-Bio sector by promoting organic, mutually beneficial partnerships.
Julie Gilmore, CEO of LGL, added that this partnership marks a pivotal moment in LGL’s global expansion. The new Korean hub will serve as a nexus, offering startups the essential resources, expertise, and global connections they need, while bolstering the local biotech innovation ecosystem.