Pharos IBT Partners with Yonsei University College of Medicine to Launch New Drug Development
[Asia Economy Reporter Kum Boryeong] Pharos IBT is partnering with Yonsei University College of Medicine to develop new drugs.
Pharos IBT announced on the 12th that it signed a "Joint Research and Technology Agreement for the Discovery and Development of Next-Generation Innovative Anticancer Drugs" with Yonsei University College of Medicine's Yonsei Institute for Life Science and Biotechnology on the 11th.
Through this agreement, Pharos IBT will provide its AI and big data-based drug development platform, "Chemiverse," to the Yonsei Institute for Life Science and Biotechnology. The institute plans to utilize this platform in research to identify more than two types of targeted anticancer drug candidates. Subsequently, Pharos IBT will take charge of preclinical and clinical development of the identified candidates to advance global new drug development.
According to Pharos IBT, Chemiverse holds networks analyzing interactions among disease-target proteins and drugs based on over 10 million research paper big data, as well as networks of more than 2 million bioactive compounds including drugs, natural products, and chemicals.
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Yoon Jung-hyuk, CEO of Pharos IBT, stated, "We will promote open innovation with Yonsei University College of Medicine's Yonsei Institute for Life Science and Biotechnology, which possesses excellent talent and specialized infrastructure for new drug development." He added, "Through this, we aim to drastically reduce the cost and time required to select clinical candidate substances for new drug development and contribute to addressing unmet needs in the bio-health sector."
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