SK Chemical Collaborates with J2H Biotech for New Drug Development

SK Chemicals Pangyo Headquarters Exterior (Photo by SK Chemicals)

[Asia Economy Reporter Kim Ji-hee] SK Chemicals announced on the 11th that it has signed an agreement to strengthen its strategic partnership with the new drug development venture company J2H Biotech.

Through this agreement, the two companies will jointly research new drugs utilizing J2H Biotech's OptiPlex technology and targeted protein degradation technology. SK Chemicals will gain opportunities to apply J2H Biotech's synthesis experience and capabilities not only to their joint research but also to SK Chemicals' own research and development pipeline. J2H Biotech will be able to leverage SK Chemicals' validation capabilities, clinical trial, and product approval experience for joint research on new pipelines as well as the development of its own pipelines.

Furthermore, as this agreement is part of a strategic investment, SK Chemicals plans to participate in J2H Biotech's pre-IPO round and support J2H Biotech as a shareholder.

Kim Jung-hoon, Head of SK Chemicals' Research and Development Center, said, "We are pleased to collaborate with J2H Biotech, which has some of the top experts in the domestic synthetic drug sector through this agreement," adding, "We expect synergy in the new drug development process by mutually complementing each other's capabilities."

Meanwhile, SK Chemicals plans to actively pursue open innovation through strategic investments that include equity investments in promising pharmaceutical and bio venture companies, as well as various collaborations such as pipeline acquisition and joint development.

This content was produced with the assistance of AI translation services.