Seoul, Nov 7 (IANS) South Korea aims to fully self-supply radioactive isotopes by 2030 as part of efforts to foster the local radiobiology industry and begin exporting radiopharmaceuticals by 2035, the science ministry said on Thursday.
“We have devised a strategy to spearhead into the global radiopharmaceuticals market by improving domestic production capabilities of radioactive isotopes and securing infrastructure for new drug development,” First Vice Science Minister Lee Chang-yune said, Yonhap news agency reported.
Under the strategy, the government will create a national isotope program to develop technologies and build infrastructure to produce and supply radioactive isotopes for medical purposes independently by 2030, according to the Ministry of Science and ICT.
The ministry said the roadmap will help the country become a first mover in the global radiation biology market, which has been growing rapidly in recent years on expectations the technology could help treat cancer.
To this end, the government will support the development of technologies for medical isotopes, such as Lutetium-177 and Molybdenum-99, and advance the existing proton accelerator and research reactor.
It will also assist with research projects in the field to develop at least three novel drug candidates and export radiopharmaceutical products by 2035.
The country will also form industry clusters across the country, including a new drug development centre in Seoul and an isotope cluster in the southeastern region.
Meanwhile, the country’s Ministry of Trade, Industry and Energy on Thursday hosted a networking event to help medical device companies find potential investors and commercialise their cutting-edge technologies.
The Korea Medical Device Development Fund (KMDF) Matching Day was held in Seoul, offering one-on-one meeting opportunities between 26 medical instrument companies and 27 investors, according to the Ministry, Yonhap reported.
The KMDF was launched in 2020 to consolidate various medical instrument-related policies across the industry, science, and health ministries.
In 2023, the KMDF helped three companies secure investments totaling 6.5 billion won ($4.63 million) through the annual event.
–IANS
rvt/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
