[Law Firm Now] Daeryun Law Firm takes preemptive legal action in the field of clinical trials

Expansion of clinical trial market size
New pharmaceutical, bio, and healthcare center established
TF organization for each issue… New medical technology evaluation assistance

As the research and development costs of domestic pharmaceutical and bio companies increase, the size of the clinical trial market is also expanding, and Daeryun Law Firm (Lihan) is attracting attention by taking a preemptive response to supporting related legal disputes.

According to the National Clinical Trial Support Foundation's Korean Clinical Trial White Paper, the research and development costs spent last year by pharmaceutical companies that received clinical trial plan approval from the Ministry of Food and Drug Safety over the past three years are estimated to be about 4.099 trillion won. This is an increase of approximately 47% compared to the previous year's cost of 2.7237 trillion won.

Currently, Daeryun is providing customized advisory services to minimize legal risks in the pharmaceutical, bio, and medical device clinical trial fields based on the professional capabilities of the medical pharmaceutical group. In particular, the group recently established a new 'Pharmaceutical, Bio, and Healthcare Center', formed a task force for each issue, and began expanding its expertise by establishing a systematic strategy that reflects the uniqueness of the industry.

The Pharmaceutical, Bio, and Healthcare Center operates a one-stop legal support service for companies that need clinical trial advice, such as medical institutions and pharmaceutical companies. In addition, we are providing more professional support by establishing close business cooperation relationships with the government, affiliated organizations, and related organizations.

Specifically, we are providing professional services in the areas of ▲support for research and development of pharmaceuticals and medical devices, ▲legal advice on Institutional Review Board (IRB) review and approval, and ▲intellectual property rights protection, such as patent and trademark applications for items subject to clinical trials.

Furthermore, Daeryun also provides document advice related to new medical technology evaluation. This system, which evaluates the safety and clinical effectiveness of new medical technologies, is known to be difficult to pass because it requires dual approval from the Korea Institute of Health and Medical Research and the Ministry of Food and Drug Safety. Daeryun is obtaining smooth approvals based on the assistance of professional attorneys with extensive experience.

The head of the Pharmaceutical, Bio, and Healthcare Center is Seohyung Lee, an attorney with experience advising on clinical trials for various drugs and medical devices. In addition, attorneys Lee Il-hyung, Yoon So-young, and Choi Yun-jeong, who hold pharmacist qualifications, will join to resolve legal issues faced by pharmaceutical companies and medical device manufacturers and help clients secure product status in the market. In particular, attorney Lee Il-hyung, who has extensive experience in patent and research and development contracts, has a deep understanding of the intellectual property field.

Kim Kook-il, CEO of Daeryun Law Firm, said, "As interest in the pharmaceutical and healthcare industries has recently increased, clinical trials are also increasing. Since clinical trials are a core process in the development of drugs and medical devices, the importance of legal advice is very great."

CEO Kim then said, “Based on Daeryun’s abundant expertise and experience, we will support our customers to run their businesses stably and become a reliable partner that helps the growth of the pharmaceutical and bio industries.”

Reporter Choi Seok-jin (csj0404@asiae.co.kr)

[View full article]
Asian Economy - [Law firm now] Daeryun Law Firm takes preemptive legal action in the clinical trial field (Go here)
SNN - Daeryun Law Firm, strengthening legal risk management for pharmaceutical and bio clinical trials (go here)