"Korean Biotech Has World-Class Technology... Needs Stronger Storytelling and Business Development Skills"

'Bio Korea 2026' Media Interview on April 28
Challenges for Korean Companies Highlighted by Global Investors
Big Pharma Partnerships Hinge on Clinical Advancement
Ecosystem Maturity Needed: Early-Stage Investment and Transparency

"I have seen cases where, even with the same assets and technology, the valuation can differ tenfold within three months depending on who is handling the business development. If you have the right data in place, strengthening proper storytelling and business development culture can lead to much greater success."

On April 28, at a media interview held during 'Bio Korea 2026' at COEX in Gangnam-gu, Seoul, global healthcare investment experts shared these insights. The panel included Jason Hill, Vertical Lead at Nordic healthcare accelerator Vertical; Jean-Christophe Renondin, Managing Partner at the Europe-based healthcare venture investment institution Vesalius Biocapital and former Head of Healthcare Investments at the Oman Sovereign Wealth Fund; and Peng Yang, CEO of Blue Ocean Capital, which has achieved over 1 billion dollars in life sciences investments in China and Hong Kong.

Jean-Christophe Renondin, Managing Partner at Vesalius Biocapital, Peng Yang, CEO of Blue Ocean Capital, and Jason Hill, Vertical Lead (from left), are speaking at a media interview for 'BIO KOREA 2026' held on the 28th at COEX in Gangnam-gu, Seoul. Photo by Minjae Kwak

They unanimously gave high marks to the technological capabilities of Korean bio and healthcare companies. However, the areas they commonly identified for improvement were outside the realm of technology. Both Jason Hill and CEO Peng Yang pointed out a lack of storytelling and business development capabilities. Jason Hill noted, "It's not just a language issue, but there seems to be a lack of storytelling that translates technical and scientific strengths into valuable narratives to persuade investors and corporate partners." He added, "If Korean companies can articulate what problem their product solves, for whom it solves it, and why it matters, many could benefit."

CEO Peng Yang also commented, "This is not only an issue for Korea; it is the same for China," and continued, "Asian companies work hard and efficiently, but face difficulties in business development targeting the US and European markets." He further stated, "If they strengthen a business development culture that establishes proper storytelling, networks, and partnerships, they can achieve much greater success."

Global investors are speaking at a conference session of 'Bio Korea 2026' held at COEX, Seoul on the 28th. Photo by Kwak Minjae

The maturity of Korea's investment ecosystem was also identified as a challenge. CEO Peng Yang observed, "Korean investors tend to prefer late-stage companies for reasons of stability, but in China, the proportion of early-stage investments led by the private sector has recently increased." He continued, "Although there are risks, if due diligence and evaluation for early-stage companies are carried out properly, much higher returns can be achieved." Managing Partner Renondin pointed out, "Like in the US and Europe, there needs to be more transparent public disclosure of financial information, and investors and management should work together to envision the company's long-term development, not just focus on IPO exits."

Clinical progress was emphasized as a prerequisite for global partnerships. Managing Partner Renondin explained, "Unless it is a groundbreaking new technology, big pharma companies these days rarely consider companies that have only completed Phase 1 clinical trials." He added, "In order to attract the attention of big pharma, companies need to reach at least Phase 2a clinical trials, which demonstrate not only safety in humans but also efficacy." Jason Hill stressed, "Partnerships are built on trust, not just technology. You must be able to collaborate closely over short distances and communicate about the value you can co-create."

This content was produced with the assistance of AI translation services.