President Moon Jae-in Awards Korea’s Two Millionth Patent to Orum
On Sept. 19, South Korean President Moon Jae-in personally awarded the country’s two millionth patent certificate to Orum Therapeutics for a technology that uses therapeutic antibodies in tumor suppression. The patent signing was marked with a special ceremony at the Blue House in Seoul, attended by Orum Founder and CEO Sung Joo Lee and his co-founder Yong-Sung Kim..
Orum’s patent marks a major milestone for technological development in the country, which is currently first in the world in terms of patents per capita. President Moon noted the rapid increase in patent applications in the country: between 1946 and 2010, the country registered one million patents, and registered another one million between 2010 and 2019. Moon also emphasized that it was especially meaningful to award this milestone patent to a technology that aims to contribute to the welfare of the public.
Founded in 2016, Orum is committed to advancing novel antibody therapeutics for unmet medical needs. Orum’s work focuses on leveraging its unique cell-penetrating antibody platform, OromabTM, to inhibit intracellular protein drug targets currently considered “undruggable.” The company is based in Daejeon, Korea, and has a research arm in Cambridge, Massachusetts.