Korean Biotech Platforms Drive Record $13.5 Billion in Technology Exports
核心洞察
Korean pharmaceutical and biotech companies achieved record technology export deals worth 18.111 trillion won ($13.5 billion) in 2024, surpassing the previous 2021 record of 13.8 trillion won.
Platform technologies from companies like ABL Bio (搜索), Alteogen, and LigaChem Biosciences (搜索) accounted for approximately 13 trillion won of these deals, demonstrating their ability to license to multiple global partners.
ABL Bio (搜索)'s blood-brain barrier platform secured major deals with GSK (4.1 trillion won) and Eli Lilly (3.8 trillion won), while Alteogen's subcutaneous injection technology attracted partnerships with AstraZeneca, Merck (搜索), and Daiichi Sankyo.
Korean biotechnology companies have achieved unprecedented success in technology exports, with platform-based innovations driving record-breaking licensing deals worth 18.111 trillion won ($13.5 billion) in 2024, according to the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA).
The 2024 figure represents a significant leap from the previous record of 13.8047 trillion won set in 2021, with platform technology companies contributing approximately 13 trillion won to this year's total. Unlike traditional drug candidates that can only be licensed exclusively to one company, platform technologies enable multiple partnerships with global pharmaceutical giants, allowing cumulative results to accumulate rapidly.
Blood-Brain Barrier Technology Leads Major Deals
ABL Bio (搜索) emerged as a standout performer with its "Grabody-B (搜索)" platform, a bispecific antibody technology designed to deliver therapeutics across the blood-brain barrier by targeting the IGF1R (搜索) receptor. The company secured two major deals this year: a 4.1 trillion won agreement with GSK in April, followed by a 3.8 trillion won contract with Eli Lilly in November, bringing ABL Bio's 2024 total to 8 trillion won.
The Grabody platform represents a significant advancement in drug delivery, addressing one of the most challenging barriers in pharmaceutical development—getting medicines to the brain effectively.
Subcutaneous Injection Platform Gains Global Traction
Alteogen's "Hyaluronidase (ALT-B4)" platform has attracted substantial international interest for its ability to convert intravenous infusions into simple subcutaneous injections. The enzyme-based technology secured a deal worth up to 1.9 trillion won with AstraZeneca's MedImmune division, adding to existing partnerships with Merck (搜索) in the United States and Daiichi Sankyo in Japan. Alteogen's cumulative technology export value is approaching 11 trillion won.
ADC Technology Expands Global Footprint
LigaChem Biosciences (搜索), specializing in antibody-drug conjugate (ADC) development, transferred its "ConjuALL (搜索)" platform to Japan's Ono Pharmaceutical. The platform precisely attaches drugs to antibodies to produce targeted therapeutic effects, earning recognition as an "anti-cancer (搜索) cell guided missile." This deal pushed LigaChem's cumulative technology export contract value past 10 trillion won.
The combined technology export totals from ABL Bio (搜索), Alteogen, and LigaChem Biosciences (搜索) amount to approximately 30 trillion won in recent years, matching the entire domestic pharmaceutical and biotech market size of 31 trillion won from last year.
Emerging Players and Future Prospects
Rznomics (搜索), an unlisted gene therapy developer, signed a 1.9 trillion won technology transfer contract with Eli Lilly for ribonucleic acid (RNA) therapeutics, demonstrating the breadth of Korean platform innovation.
Several companies are positioned for potential future deals. Peptron (搜索) signed an evaluation agreement with Eli Lilly for its "SmartDepot (搜索)" long-acting peptide injectable technology, with a main contract decision expected after completing joint research by next month.
D&D Pharmatech (搜索) transferred a GLP-1 (搜索)-based obesity (搜索) drug candidate developed using its oral peptide platform "OralLink (搜索)" to Metsera, which has been approved for acquisition by Pfizer. G2GBIO (搜索) conducted joint research with Germany's Boehringer Ingelheim using its long-acting drug delivery platform "InnoLAMP (搜索)" and signed an additional research collaboration agreement with an undisclosed European pharmaceutical company in September.
Platform Technology Advantages
Industry analysts highlight that platform technologies offer "low risk, high return" potential compared to single drug development. These versatile systems require less R&D investment and often secure revenue through early-stage licensing before commercial products reach the market, as they can be applied across multiple drug pipelines.
An industry official noted, "Platform technologies have a broader scope of application than new drug candidates, so global drugmakers are actively participating. Additional technology export contracts could be announced through the end of the year."
Strategic Considerations for Long-term Growth
Despite the platform licensing success, experts caution that these deals alone will not elevate Korean firms to global "big pharma" status. ABL Bio (搜索) CEO Lee Sang-hoon emphasized at the BIO International Convention in June that Korean companies should pair their platform successes with more aggressive investments in full drug development, as blockbuster drugs generating more than 1 trillion won in annual revenue remain the primary driver of long-term corporate valuation.
The trend is attracting new market entrants, with Samsung EpiS Holdings (搜索) launching subsidiary EpiS NexLab to develop biotech platforms, including peptide-based technologies, signaling continued growth in Korea's platform technology sector.