Announcement of Clinical Results Measures for’Inflating’… “Review to establish common clinical success or failure standards in the industry”
The Korea Bio Association announced that it will help the growth of small and medium-sized venture startups by activating exchanges between large companies, small and medium-sized enterprises, and startups.
It also devised a plan to reduce confusion surrounding clinical results by creating criteria for success or failure of clinical trials to be used together in the industry.
Han-seung Koh, the new president of the Korea Bio Association, said at an online press conference on the 24th, “In order for the domestic bio industry to develop, not only large companies, but also SMEs and startups must become strong pillars.
The association plans to expand networking among member companies to provide an opportunity for companies with know-how to help companies facing problems.
He announced that he would hold a corporate briefing (IR) event for domestic start-ups to provide an opportunity to publicize technology and plans, arrange meetings with executives in charge of technology introduction contracts from multinational pharmaceutical companies, and invite international conferences.
The association has a policy of not neglecting to cooperate with the government for member companies.
Chairman Ko emphasized, “We will discover government tasks necessary for industries such as bio materials, parts, equipment (small, deputy, head), and resolve difficulties of local small and medium-sized venture companies by communicating with the government.”
The association also announced plans to establish its own criteria to distinguish between success and failure of drug clinical trials.
Recently, controversy has arisen as some bio companies inflate clinical results to prevent stock price declines or arbitrarily judge clinical success based on different criteria.
Chairman Ko said, “Since there is no reference point as to whether the clinical trial has secured statistical significance, many companies subjectively announce their successes and failures.” I will decide whether to promote it.”
/yunhap news
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