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Foreign Biotech Eyes New Jersey as Top Pharma Location
Korean biotech opens first U.S. headquarters in New Jersey to better control clinical trials as it looks for strategic partnerships in the U.S.
While Boston and San Francisco are getting all the attention lately, New Jersey hasn’t lost its groove when it comes to the pharmaceutical industry.
“The New Jersey and New York area is one of the best places for biopharma companies,” said Ki-Young Sohn, chairman and CEO of Enzychem Lifesciences. “There are many big pharma and biopharma companies headquartered in the New York and New Jersey area. Plus, the proximity to New York, which is the center of finance.”
And, that’s why Korean Enzychem Lifesciences, a global new drug development biopharmaceutical company founded in 1999, selected New Jersey as the place for their first U.S. headquarters.
During a private ceremony marking the headquarters’ opening, Sohn told Pharm Exec, that given the Phase 2 clinical trials in three different indications they are currently running in the U.S., it was time to centralize their U.S. operations.
Previously, they had people scattered across the northeast, but by opening a U.S. headquarters, they would be able to better supervise the clinical trials.
“Another major mission for our U.S. operations is exploring strategic partnerships with global pharmaceutical companies,” he said. “Collaboration with multinational pharma companies including potential licensing opportunities are vital components in ensuring the success of our global new drug development. We also seek to cultivate the true value of EC-18, our new drug candidate, to promote strategic collaborations with potential global partners.”
Enzychem Lifesciences has been engaged to develop EC-18 for three indications. The first area is chemotherapy-induced neutropenia, the second is using EC-18 to abrogate oral mucositis in head and neck cancer patients who are receiving combined chemo, and radiation therapy and the third area is acute radiation syndrome.
Sohn talks about opening the company's U.S. company's headquarters in this Pharm Exec YouTube video:
Sohn talks about why they selected New Jersey for their headquarters in this Pharm Exec YouTube video:
