Boryung Holdings established a local corporation in San Francisco, the U.S. on Jan. 22. "We established a local corporation to make efficient investments through the setup of networks and accumulation of information with global pharmaceutical companies, investors, and early stage R&D companies in the U.S. and Europe, and to actively review and strengthen strategic partnerships and cooperation projects with businesses such as Boryeong Pharmaceutical, Boryung Biopharma, and Boryeong Consumer," a Boryeong Holdings official said.
The name of the local corporation to be opened in San Francisco, the second largest city of California, a leading investment hub for bio/life science, is "Hayan Health Networks," and Choi Sung-won, head of global operations at Boryeong Pharmaceutical, was named as its head.
"The competitiveness of bio-health care industries, whose boundaries are disappearing owing to AI and digital and their speed is important, is the information and network," said Choi.
"In the wake of the opening of a local company in the U.S., which is the world’s largest pharmaceutical market and has infrastructure such as universities, research institutes, experts and capital, we will further strengthen R&D cooperation," he added.
Meanwhile, Boryeong Pharmaceutical, a subsidiary of Boryeong Holdings, is hosting the first-phase clinical test of the new anti-cancer drug BR2002 (development name) in the U.S.