Grafting such as Inabogliflozin, expanding indications
Daewoong Pharmaceutical will strengthen new drug development capabilities by signing an agreement with an artificial intelligence (AI) company.
Daewoong Pharmaceutical (CEO Seung-ho Jeon) announced on the 23rd that it has signed a joint R&D agreement with Oncocross (CEO Lee Rang Kim), a company specializing in artificial intelligence (AI)-based new drug development at its headquarters in Samseong-dong on the 22nd.
Daewoong Pharmaceutical plans to expand the indications by incorporating Oncocross’s gene expression pattern-based AI platform’RAPTOR AI’ with the new drugs’Inabogliflozin’ and’DWN12088′ under development.
Daewoong Pharmaceutical is a PRS target treatment that expands the indication of Inabogliflozin, which is originally being developed as a treatment for diabetes, to metabolic diseases such as obesity, heart disease, kidney disease, etc., and refractory fibrosis appearing in the lungs, kidneys, and skin as an indication. In DWN12088, new possibilities such as anticancer drugs will be explored.
Daewoong Pharmaceutical explained that using Oncocross’s AI platform, the optimal combination of treatments can be discovered in a short time, thereby significantly shortening the new drug development process.
Oncocross is a company with big data related to AI platform technology that finds new drug candidates and new indications.
In recognition of its future value, Oncocross has attracted a total of 25.5 billion won worth of investment through series A and B for the past two years since its establishment in 2015. Daewoong Pharmaceutical also makes certain strategic investments in Oncocross after signing the R&D agreement.
Seung-ho Jeon, CEO of Daewoong Pharmaceutical said, “With Oncocross’s bioinformatics-based excellent AI platform and Daewoong Pharmaceutical’s high ability to develop new drugs, while incorporating AI into new drug development has become a major trend in the pharmaceutical industry, We look forward to building a successful model.”
He added, “Through this agreement, we will do our best to expand the new drug pipeline and contribute to improving the quality of life for patients.”
Lee-Rang Kim, CEO of Oncocross said, “We will try to change the paradigm of existing new drug development by meeting our AI technology and Daewoong Pharmaceutical’s new drug development capabilities, and to serve as an opportunity for the Korean pharmaceutical industry to leap higher. We will further expand our partnerships with companies.”
Meanwhile, Daewoong Pharmaceutical has been conducting joint research since last year to develop new anticancer drugs with A2A Pharma, an AI drug development company that specializes in identifying new target protein structures.
Daewoong Pharmaceutical plans to maximize the productivity and value of the new drug pipeline by incorporating the data accumulated so far with the collaboration data with Oncocross.
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