SK Biopharmaceuticals has announced their ambitious new strategy that will take them on a bold journey towards becoming a world-renowned industry leader in the field of biotechnology. With this ambitious endeavor, the company hopes to make unprecedented strides in the biotech industry.
At a press conference in Seoul on Tuesday, Donghoon Lee, Chief Executive Officer of SK Biopharmaceuticals, unveiled the company’s plan to internationalize and roll out its cutting-edge radiopharmaceutical and targeted protein degradation therapies on a global scale. By utilizing these novel modalities and platforms, the organization sets out to revolutionize the landscape of medical care.
SK Group is ramping up its efforts to become one of the major players in the radiopharmaceuticals (RPT) market in both Asia and the US. To accomplish this, it is strengthening its ties with the US nuclear innovation company TerraPower, which is one of its largest investors.
Furthermore, SK Group is looking to expand into the oncology therapeutic area, which is not only one of the world’s largest medicinal market, but also an incredibly important one. With these measures in place, the company is primed to make a lasting and meaningful impact on the global RPT market.
SK Biopharmaceuticals has taken a major step forward in its mission to bolster its TPD platform, with the acquisition of Proteovant Therapeutics; a U.S. biotechnology company. This has paved the way for SK Biopharmaceuticals to grow their global R&D center for cancer treatment, and acquire the innovative TPD technology to unlock the potential of new treatments for CNS diseases.
Mr. Lee has ambitious plans to use global resources across SK Group’s integrated “bio value chain” of research, production, and distribution to open the doors to exciting newcell and gene therapies. With SK Inc. and SK Pharmteco, he hopes to unlock the potential of these cutting-edge therapies through collaborative sharing of expertise and capabilities.
By 2025, the company will take strides to launch its second commercial product, taking advantage of the opportunities that come through an acquisition and solidifying their medium to long-term strategic goals.
SK Biopharmaceuticals is in the process of transforming itself to become a global big biotech company with an innovative business model. Aiming to diversify its portfolio, SK Biopharmaceuticals will expand its capabilities into biologics and oncology while transitioning from a single asset-based company to a tech-based platform.
As it progresses further with its synergy with SK Group, it will open new doors and potentials in the mid to long term – creating opportunities and greater value. According to CEO Mr. Donghoon Lee, “We are committed to embarking on this journey and creating a lasting impression in the biopharmaceutical industry.”
About SK Biopharmaceuticals
SK Biopharmaceuticals and its U.S. subsidiary, SK Life Science, are on the cutting-edge of biomedical science. With an ambitious pipeline of eight innovative compounds in development, these two biotech companies stand poised to revolutionize the treatment of central nervous system (CNS) disorders, including epilepsy.
To top it off, SK Biopharmaceuticals has also begun to make breakthroughs in oncology through early research. All in all, these two organizations have positioned themselves on the cutting edge of biomedical research.