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Boryung successfully hosted the 1st Annual Care in Space Challenge’s Pitch Day in Los Angeles

2022-08-17
<figure class='image'><img src='/img/DATA/attachFiles/file/Editor/2023/05/02/59591eb1-bb0c-466e-9c21-73e8f87ae5e4'><figcaption>(Image: The 1st Annual Care in Space Challenge’s Pitch Day)</figcaption></figure><p><br>On August 8, Boryung announced that it has successfully hosted the 1st Annual Care in Space (CIS) Challenge’s Pitch Day to find the human healthcare solution in space.</p><p>The CIS Challenge aims to gather the global space healthcare startups to seek solutions to various potential problems in space with their creative ideas.</p><figure class='image'><img src='/img/DATA/attachFiles/file/Editor/2023/05/02/7ec724ca-d209-489f-9574-6b1c3d94e369'><figcaption>(Image: BI of CIS Challenge)</figcaption></figure><p><br>On August 5 (August 4, 2 PM PDT), 16 teams from 8 countries (the U.S., Belgium, Singapore, the United Arab Emirates, the U.K., Israel, Italy, and South Korea), passed the initial document evaluation, respectively delivered the pitch presentation at the Conference Hall of the University of California, Los Angeles (UCLA). Jay Kim, CEO & Chairman of Boryung, presented the keynote speech on the pitch day and said, 'As the volume of time humans spend in space increases, the careful care for various health conditions has become necessary for safe space activities,' and 'Boryung, which has more than 60 years of pharmaceutical industry experience, will contribute to revitalizing space healthcare research by identifying and supporting innovative startups through the CIS Challenge.'</p><p>The CIS Challenge’s co-partners, Kam Ghaffarian, Executive Chairman of Axiom Space, the U.S. space development business, and Fran？ois Chopard, CEO of Starburst Aerospace, the global aerospace startup accelerator, also introduced the CIS project’s meaning and the role of their businesses through the opening speech.</p><p>The pitch teams introduced their ideas for healthcare in space as well as business models and investment status for commercialization.</p><p>The CIS Challenge’s judges, including Prof. Kyu-sung Kim, Director of Inha University's Research Institute for Aerospace and Medicine, Prof. Hak-soo Choi from Harvard Medical School, and James Hury, Deputy Director of the Translational Research Institute for Space Health (TRISH) under the National Aeronautics and Space Administration (NASA), thoroughly selected 8 teams advancing the final. They evaluated based on diverse categories such as the idea’s novelty, the feasibility for commercialization, and passion for the mission.</p><p>After the accelerating period from September 12, the selected teams will have an opportunity to explain their ideas and solutions to the global investors through the CIS Challenge’s Demo Day which will be broadcast live on December 8.</p><p>Jack Lim, Head of the New Portfolio Investment Unit at Boryung’s Global Investment Center, said, 'While we established the cooperative relationship with the CIS project’s key partners, we’ve realized the interest and necessity of space healthcare since a great number of candidates around the world including America and Europe applied to the CIS challenge with a variety of ideas despite its first-time hosting,” and “We seek to reinforce Boryung's position as the space healthcare industry leader by leading and supporting the selected teams.”</p><p>Furthermore, the government has shown interest as the officials from the National Institute of Health (NIH) under the Korea Disease Control and Prevention Agency (KDCA) also attended the CIS Challenge’s Pitch Day. In the wake of the recent space development era, the NIH is promoting the ‘space medicine research platform construction project.’</p><p>Successfully launching the space rocket Nuri in June and the lunar probe Danuri on August 5, the Korean government is opening the space era by preparing to establish the Space Agency to take the world's 7th largest space power. Accordingly, many domestic businesses are also declaring to foster the space industry in cooperation with related research institutes such as projectiles, rocket engines, and space mobility development.</p><p>Boryung has been implementing the CIS project since 2020 to lead the globally unexplored space healthcare industry. The 1st Annual CIS Challenge was hosted as the first CIS project, and this challenge will be held every year.</p>
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