On Tuesday, November 25, 2008, IFEZ signed a business agreement with Crucell. The agreement was made to expand cooperation in the fields of biopharmaceuticals and vaccines and to strengthen the foundation for the advanced bio industry. Crucell is a biotechnology company with capabilities in vaccine development and antibody technology. Going forward, both sides will pursue research and development and investment cooperation to promote the creation of a bio cluster in Songdo International City and the concentration of related industries.