- The companies signed an MOU to expand investment and collaboration for new drug development between the two companies
- The MOU is expected to accelerate new drug development through collaborative clinical trials and opening of SK chemicals Synthetic Research Center
SK chemicals has stepped up its cooperative relationship with its artificial intelligence (AI) partners.
SK chemicals (CEO: Jeon Kwang-hyun) announced on the 2nd that it had signed an agreement to strengthen strategic partnerships with Standigm (CEO: Kim Jin-han), a company that uses AI for new drug development.
Under this agreement, SK chemicals will collaborate with Standigm on the clinical trials for drug candidates for non-alcoholic steatohepatitis (NASH) that were discovered by Standigm Insight™, an AI-aided drug-repurposing platform. The drug candidate is expected to enter clinical trials in the first half of next year, and the technology transfer will be reviewed after completing Phase II clinical trials.
In addition, Standigm decided to establish a Synthesis Research Center within the SK chemicals’ Research Center. The company is aiming to open the Synthesis Research Center next month. The Synthesis Research Center will perform major synthesis tasks accompanying the collaborative research conducted by the two companies. Also, with the opening of the Synthesis Research Center, Standigm is expected to complete the vertical integration of new drug development, from target discovery to substance creation and synthesis, which will lead to efficiency in development schedule and technology accumulation.
Standigm’s CEO Kim Jin-han said, “I am delighted that Standigm's new drug development capabilities have been further strengthened through cooperation with SK chemicals, which has a great deal of experience and know-how in new drug clinical trials,” and “From now on, we will focus on the commercialization of new drug pipelines created with Standigm's AI technology.”
Kim Jeong-hoon, from SK chemicals, said, “SK chemicals has partnered with Standigm as a collaborative research partner since 2019, and at the beginning of this year, we applied for a patent for a substance treating rheumatoid arthritis (RA) which was a result of our collaborative research,” and “Through this NASH drug collaborative research and synthesis laboratory’s joint effort, we expect to expand the scope of cooperation based on the synergy and trust of the two companies’ capabilities.”
Meanwhile, SK chemicals took part in Standigm's pre-IPO round last month and acquired new shares. This agreement was also made as part of such a strategic investment.
SK chemicals also plans to actively carry out open innovation through strategic investments, such as pipeline introduction and collaborative development, while investing equity in promising pharmaceutical and bio ventures. To this end, SK chemicals is considering to invest in promising unlisted ventures.
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