Samsung Biologics and Biogen Idec have established their joint venture, Samsung Bioepis Co., Ltd., to develop, manufacture and market biosimilars. The JV is part of the biosimilars agreement the companies announced in December.

Christopher Hansung Ko has been named the chief executive officer of Samsung Bioepis. He previously served as senior vice president of Samsung Strategic Business Development. The JV’s board of directors will consist of five directors and one auditor.

The strategic collaboration between Samsung Biologics and Biogen Idec will enable Samsung Bioepis to build the capabilities needed to develop high-quality biosimilars. Construction of Samsung Bioepis’ R&D center, located at Samsung Biologics’ site in Song-do Incheon, Korea, has started and will be completed by the end of the year.