From Alteogen, ABL, and Olix to Oncocnic: Distinguishing Leaders in K-Bio through "Innovative Pharmaceutical Company" Certification

Comprehensive Evaluation of Research Personnel and Pipeline Candidates

Certified Companies Include Alteogen, ABL Bio, and Oncocnic

The government's recent revision of the drug pricing system has brought renewed attention to the "Innovative Pharmaceutical Company" certification within the pharmaceutical and biotech industries. The economic value of the certification has grown significantly as the government strengthens drug price incentives for companies that actively invest in research and development (R&D). Furthermore, with the Ministry of Health and Welfare opening recruitment for new certifications this year, there is growing interest in which companies will newly join the list.

Reference image of researchers from pharmaceutical companies conducting research. The Asia Business Daily DB

According to industry sources on September 14, domestic pharmaceutical and biotechnology companies are increasingly focusing not only on the drug pricing advantages but also on the symbolic and business value inherent in obtaining the Innovative Pharmaceutical Company certification.

The Innovative Pharmaceutical Company certification is a system operated by the Ministry of Health and Welfare under the “Special Act on Fostering and Supporting the Pharmaceutical Industry.” It assesses companies with R&D capabilities and competitiveness in entering the global market. The system evaluates not only the scale of R&D spending, but also considers R&D investment, research personnel, candidate substances and clinical development, patents, technology transfer, overseas expansion, and pharmaceutical development achievements in a comprehensive manner. Starting this year, the certification criteria have been revised to raise standards for R&D investment and strengthen quantitative evaluations for clinical trials and export activities.

It is noteworthy that even biotech firms focused on new drug development—some of which do not yet have commercially available products—are obtaining and maintaining the Innovative Pharmaceutical Company certification, even though they cannot immediately benefit from drug price incentives associated with the status.

This is because the certification represents a comprehensive government evaluation—beyond direct support benefits—of whether a company is committing significant resources to R&D, progressing pipeline candidates into clinical trials, and achieving outcomes such as obtaining patents, executing technology transfers, and expanding overseas. Although the certification does not guarantee a company’s future value, it serves as a differentiated reference point: an external benchmark of accumulated R&D and business commercialization capabilities.

A Look at Certified Companies: Alteogen, ABL Bio, Olix, and Oncocnic

Noteworthy players in Korea's biotech industry, such as Alteogen, ABL Bio, Olix, and Oncocnic Therapeutics, are all included in the list of certified Innovative Pharmaceutical Companies.

In addition to Alteogen, ABL Bio, and Olix, companies like GI Innovation, CureCell, and Qurient have also made the list. Celltrion, SK Biopharmaceuticals, and Oncocnic Therapeutics hold the certification as well.

Among these, Alteogen and ABL Bio are widely recognized for representing Korea’s biotech industry in global technology licensing achievements. Alteogen has continually signed contracts with global pharmaceutical companies based on its proprietary subcutaneous (SC) formulation switching platform, while ABL Bio has also secured significant deals with global pharmaceutical majors through its bispecific antibody and blood-brain barrier (BBB) shuttle platform. Olix, specializing in RNA interference (RNAi) therapy development, has demonstrated success in global technology transfer as well.

Both Alteogen and ABL Bio were initially certified as Innovative Pharmaceutical Companies in 2018 and maintained their status with recertification in 2024. These companies have continued to achieve tangible results such as global technology transfer and clinical development, rather than merely being added to the list.

The standards for evaluating biotech companies in the capital markets have also shifted recently—from focusing solely on pipeline potential to emphasizing visible achievements like technology licensing agreements, clinical trial progress, drug approvals, and actual sales generation.

The Innovative Pharmaceutical Company certification reflects this trend, as it assesses not only R&D investment (input), but also pipeline and clinical progress (process), as well as achievements such as patents, technology transfer, and overseas expansion (outcome). This aligns with the capital market’s ongoing efforts to distinguish high-potential biotech firms.

Alteogen Headquarters and Research Center in Yuseong-gu, Daejeon. The Asia Business Daily DB

From Technology Export to Proprietary Drug Commercialization: The Distinct Growth Path of Oncocnic

Oncocnic Therapeutics is also recognized as an Innovative Pharmaceutical Company. It was newly certified in December 2024 and currently maintains its certification period, so it is not subject to this year’s review.

Oncocnic developed "Zacubo," a treatment for gastroesophageal reflux disease, in-house and simultaneously pursued international technology licensing, obtained regulatory approval as Korea’s 37th novel drug in 2024, and launched it in the domestic market that same year. The company has secured technology export and finished product export agreements across 28 countries, including China, India, Central and South America, and Southeast Asia.

While companies like Alteogen, ABL Bio, and Olix have proven the value of their platforms and pipelines mainly through global technology licensing, Oncocnic differs by having both out-licensed technology and directly obtained approval and commercialized their own novel drug in Korea.

In particular, by selling its own in-house developed drug directly, Oncocnic is structurally able to actually utilize policy benefits such as drug price incentives provided to Innovative Pharmaceutical Companies in its business operations, unlike biotech companies with no approved products.

Currently, Oncocnic is actively expanding Zacubo’s global market reach and is developing "Nesuparib," a next-generation synthetic lethality anti-cancer drug candidate, for the global market. The company reinvests revenue generated from proprietary drugs into developing subsequent novel drug candidates.

Who Will Be in This Year's New Class? Existing Companies’ Results Also in Focus

With the selection of new Innovative Pharmaceutical Companies approaching this year, the industry is watching closely which firms will join the certified roster. As the economic value of certification increases due to drug pricing reforms, the subsequent achievements of existing certified companies have also become a point of comparison.

The Innovative Pharmaceutical Company certification does not guarantee a company’s future value or investment success. However, as it involves a comprehensive evaluation of multiple factors—R&D investment, pipeline and clinical development, patents, technology transfer, overseas expansion, and more—it serves as a valuable reference point for assessing a biotech company's research and business development capabilities.

It is also noteworthy that the certified group includes firms with different growth models—from those like Alteogen, ABL Bio, and Olix that have demonstrated competitiveness through global technology transfer, to Oncocnic, which has bridged together new drug approval and direct commercialization.

As the 2026 round of new certifications approaches, the industry is not only interested in potential new entrants, but also closely watching what results the existing certified companies are achieving after obtaining the certification.

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