Launch of AI New Drug Development Council: "Creating a Collaborative Ecosystem"

22 Domestic AI New Drug Development Companies Participate
Kim Irang, CEO of Oncocross, Appointed as Inaugural Council Chairman

On the 13th, the first meeting of the 'AI New Drug Development Council' was held at the Pharmaceutical Hall in Bangbae-dong, Seocho-gu, Seoul.

[Asia Economy Reporter Lee Gwan-joo] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association's Artificial Intelligence New Drug Development Support Center (AI Center) announced on the 14th that it has launched the 'AI New Drug Development Council' to advance AI technologies required for new drug development and to foster a collaborative ecosystem.

The council held its first meeting the day before and appointed Kim Ilang, CEO of Oncocross, as the inaugural chairman. It also set key projects including the regular hosting of AI new drug development open innovation events, promotion of public-private cooperative AI new drug development research projects, and regular roundtable meetings inviting government policy officials.

Composed of representatives and executives from 22 domestic AI new drug development companies such as Syntekabio, Standigm, and Deargen, the council will serve as a representative body for AI new drug development companies and play a key role in creating a collaborative ecosystem among industry, academia, research institutes, hospitals, and government.

The council plans to categorize AI technologies applied to new drug development and inject dynamism into the collaborative ecosystem through stage-by-stage AI technology pitching and partnering.

It will also actively pursue government proposals and communication activities related to private cooperative AI new drug development research projects. The council intends to further activate communication channels with government policy officials based on research tasks that meet the technological demands of new drug development sites and the unmet needs of clinical fields.

Additionally, the council agreed to cooperate in various AI Center initiatives such as operating boot camps for field experts, publishing AI new drug development white papers, and establishing and managing the Artificial Intelligence New Drug Development Portal Site (KAICD).

Chairman Kim Ilang said, "To inject vitality and speed into the AI new drug development market, it is necessary to remove growth obstacles, foster a collaborative ecosystem, and strengthen government policy support. If the council, which includes AI new drug development companies in our country, responds to common issues in the AI new drug development market, it will significantly accelerate the nationally important task of new drug development."

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