SK chemicals Site ManagerDiscover the New Stream of Life Science!
SK chemicals Accelerates Life Science Capability Enhancement
- New Drug Developing Capabilities Enhanced by Acquiring Bio Venture In2gen
- Steady Increase of Indirect Investment through Bio Venture Funds
SK chemicals (CEO Kim, Chang-geun) is boosting its efforts to discover a new stream of life science.
Since its merger with SK Pharmaceutical last April, SK chemicals has steadily enhanced its capabilities in the life science field. SK chemicals recently acquired In2Gen as its subsidiary by increasing its equity share through rights issue, and appointed Park Chan-jung, the executive director in charge of SK chemicals’s Strategic Planning, as the CEO of the newly acquired subsidiary.
In2Gen, currently undergoing the third phase of clinical trials for SK3530, an erectile dysfunction drug, operates major business lines, including the development of anti-cancer and anti-virus, blood and hormone medicines, and the licensing of a gene database.
By acquiring In2Gen as its subsidiary, SK chemicals can now expect a synergy effect to enhance its competitive bio R&D competence for the development of new drugs by completing the four key axes of new drug development, in addition to new drug synthesis and the production of new drugs of natural and processed substances at its Life Science Research Lab.
SK chemicals has invested 10 billion won in the Intervest Bio Fund, which channels funds into bio-sensors,
bio processes, and materials. The company plans to make additional investments through the fund.
In the meantime, the local marketing subsidiary being founded in China in the middle of this month is another sign of the company’s steady determination to and faith in life science.
“SK chemicals has succeeded in developing Sunplatina, Korea’s No. 1 new synthetic drug, which complements the company’s No. 1 natural substance drug, said Kim Chang-geun, vice chairman of SK chemicals. “We will contribute to the national welfare by steadily endeavoring to enhance our new drug R&D capabilities.”
With the current increase in equity investment, SK chemicals now holds 42.49% of In2Gen’s total shares.