Singapore-S Korea centre to boost cooperation in biomedical research


The KHIDI-A*STAR Medtech Development Centre, a joint collaboration between Singapore’s Agency for Science, Technology and Research (A*STAR) and the Korean Health Industry Development Institute (KHIDI), was officially opened on Monday (June 16).

A key cornerstone of the Memorandum of Understanding (MoU) signed between the two national agencies in December 2013, the centre will promote the co-development of medical technologies and pharmaceuticals between Singapore and South Korea, A*STAR said in a statement issued on Monday.

The centre will facilitate South Korean biomedical companies seeking to conduct biomedical technology innovation, first-in-human trials, registration and commercialisation of products in Singapore. Seven Korean small and medium enterprises (SMEs) have expressed interest in co-developing products with Singapore partners in the research and healthcare space, it said.

The companies and their local partners will also be able to tap on a US$5 million (S$6.3 million) research fund, set up as part of the MOU to help finance joint projects between South Korean and Singapore entities to register and manufacture products here, as well as market them to the region from here.

Successful recipients of the fund will base part of their operations in Singapore, which will create high-value jobs, according to A*STAR.

Student exchange programmes will also be arranged under the MoU. For example, the first group of Korean exchange students, comprising 20 post-graduates and staff from South Korea’s Dongguk University, visited last January to take part in the Singapore-Stanford Biodesign programme co-organised by A*STAR, the Economic Development Board (EDB) and Stanford University. Singaporean students are expected to learn about South Korea’s medical technology ecosystem when they embark on a study trip to Seoul next year.

“Singapore and the Republic of Korea share complementary strategies in the biomedical space. Korean companies want to regionalise and internationalise their operations through Singapore while Singapore wants to attract more biomedical companies to build a critical mass of such companies here,” Mr Lim Chuan Poh, Chairman of A*STAR, said.

“The opening of the Biomedical Sciences Development Centre will bring about a more institutionalised approach to fostering collaborations between the Korean biomedical companies and research partners in Singapore.”






Source : Channel News Asia | June 16, 2014


About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
This entry was posted in Business, Economy, Global Sourcing, Technology and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s