Chabaitech and Novartis Korea announced on the 23rd that they have signed a strategic memorandum of understanding (MoU) on the 18th to build a bio open innovation collaboration system. The two companies plan to jointly advance technology scouting, mentoring, and investment linkage to discover and support promising biotech startups and their commercialization for global expansion. The K-Bio CIC Open Innovation Center, being constructed in Pangyo's second techno valley, will span 10,000 square meters (approximately 3,000 pyeong) and is set to begin full-scale operations in the second half of this year.

The Cell Gene Bioplatform (CGB) that Chabaitech is building will create an integrated bio-cluster linking research and development, clinical trials, contract manufacturing (CDMO and other production facilities), and business development focused on cell and gene therapies. The K-Bio CIC Open Innovation Center aims to provide unique integrated open innovation hub services in Korea, employing a Cambridge Innovation Center (CIC) model, which includes shared laboratory infrastructure, access to global networks, clinical access, GMP (Good Manufacturing Practice) production linkage, and global business development support.

Chabaitech's CEO, Cha Won-tae, emphasized that open innovation is not just an option but a crucial strategy in the biotech industry. He expressed aspirations to grow the K-Bio CIC Open Innovation Center into an Asia biotech innovation hub connecting global pharmaceutical companies and biotech startups. Similarly, Novartis Korea's CEO, Yoo Byung-jae, expressed hopes that the collaboration would identify promising domestic bio-innovation companies and provide practical opportunities for these companies to leap into global markets, actively supporting their challenges and growth based on Novartis's extensive global capabilities and experience.