Launching of Biotech Venture Focusing on Cancer Research .SK chemicals in cooperation with Seoul National University Soure : Korea Economy Newspaper 2000/07/13 SK chemicals has established a biotech venture In2Gen in cooperation with the Cancer Research Institute of Seoul National University, University of Texas, National Livestock Research Institute of Rural Development Association, and Easy Bio System. In2Gen with an initial capital investment of $9 million dollars will concentrate on the development of a diagnostic system and drugs for cancer. SK chemicals held a signing ceremony for the establishment of In2Gen, the first biotech venture in Korea, at the Ritz-Carlton Hotel on the 13th and announced its plans. Dr. Dae-Ki Kim was appointed as CEO of In2Gen. Dr. Dae-Ki Kim developed a new drug, Sunpla, for the first time in Korea. There are 16 research staffs including 8 Ph.D.s in In2Gen. In2Gen plans to construct a preventive medical system by the development of a diagnostic system for cancer or other difficult to cure diseases through the analysis of lineage and genes. In addition, next generation drugs and diagnosis reagent will be developed by a close examination on proteins revealed uniquely in cancer tissues. Furthermore, development of a protein drug utilizing transformed livestock will be made. In2Gen will begin regular marketing of products and information in 2003 and is aiming at $83 million dollars in sales in 2005. SK chemicals will support research staffs and marketing as well as manage investment shares and overall operations based on knowledge accumulated in the development of anti-cancer drugs. The Cancer Research Institute of SNU will supply the incubation center facility and will support cancer source cells and clinical data. The National Livestock Research Institute of Rural Development Association and University of Texas will supply know-how in the protein drug development field through transformed biotechnology. Easy Bio System will be in charge of the development and production of proteins using gene technologies related to microbes and livestock industries. "The biotechnology venture In2Gen can be characterized by a construction of a complete network among research institutes and academics, and will result in a significant synergy effect in research and development," said a source from SK chemicals. SK chemicals is currently concentrating on the development of diverse drugs including drugs for arthritis, diabetes, and impotence based on natural products, and is also concentrating on specialty Chemicals field such as development of high performance polyester resin.