[Reporter's view] It's time to share the achievements

of biopharmaceuticals' overseas conferences

Biopharmaceutical companies attend major overseas conferences in late May and early June.

 

ASCO, EULAR, and BioUSA.

 

During this period, it is said that key workers in the R&D and BD fields are not in Korea.

 

Looking at BIO USA alone, more than 500 Korean companies participated in the event, second only to the US.

 

It is truly a global conference.

 

The purpose is to promote its own pipeline.

 

Through this, it promotes achievements such as partnering and technology transfer.

 

Intangible assets such as building a human network for future partnerships are also obtained.

 

Numerous companies announce their participation through press releases before overseas conferences.

 

content is similar.

 

They were 'invited' to the world's largest academic conference for related diseases, 'selected as a presenter', 'there are plans to meet with a number of multinational pharmaceutical companies', and 'we will promote technology transfer for our own pipeline'.

 

Some attend posters but do not hesitate to advertise extensively.

 

Occasionally, the name of a global pharmaceutical company scheduled for a meeting is also mentioned.

 

The stock price also shines before publicity.

 

Many companies are different before and after attending the conference.

 

It is difficult to make an accurate count, but looking at the annual trend, half of the public relations companies before attending did not release additional data as if nothing had happened.

 

Suddenly, a certain biotech CFO Ha So-Yeon comes to mind.

 

After going public in 2015, the company regularly attends overseas conferences every year.

 

It does not discriminate between large and small conferences.

 

However, it is not producing any significant results.

 

The reason was simple.

 

This is because the company did not have global meeting capabilities.

 

Just because you're good at English doesn't mean you're good at it.

 

To get results, you need to know the global pharma process.

 

Even if clinical results are shared at meetings with foreign pharmaceutical companies, there is no way to transfer technology.

 

The head of the research center discusses the technology transfer contract, and the CFO discusses clinical trials.

 

There are many times when communication is difficult because attendees do not understand the value of their company.

 

Foreign pharmaceutical companies have the property of not moving to the next stage even if the clinical results are good if the communication is not professional.

 

This is the reason why our company has not achieved results despite participating in overseas conferences for several years.

 

Meetings do not bring out the needs of global pharmaceutical companies.

 

From a certain point on, the significance of participation is placed on it.

 

It is safe to see it as a way to raise domestic stock prices.

 

This may be an example of some ventures.

 

There is a way to clear up the misunderstanding.

 

to share achievements.

 

Of course, contracts such as technology transfer are made secretly and can be broken even a few hours in advance, so it is right to keep them confidential.

 

However, the part that can be disclosed should share the achievements.

 

Only then can the objective corporate value be judged.

 

Clinical progress updates, conference attendees' roles, main track presentations, booth grades, number of meetings, and scale of participation can be objective indicators.

 

Now that most of them have returned to Korea after completing overseas conferences, it is necessary to share their achievements.

 

There are already places that share feedback from overseas academic societies through press releases.

 

However, most of them are limited to a few, including large domestic pharmaceutical companies.

 

In addition to this, it is necessary to make efforts to publicize the results.

 

The data that can be disclosed can be limitless, depending on what the company thinks.

 

Investors can judge the value of a company only when there is a lot of information that can be shared.

 

It may be part of it, but it should be part of it, but there should be no more one-time publicity press releases before attending conferences to raise stock prices.

 

Now is the time when it is important to share even small achievements and have their value objectively recognized in the market.