Woori Green Science Signs MOU with Enbios to Develop Functional Materials Using Medical Cannabis

[Asia Economy Reporter Hyungsoo Park] Woori Green Science announced on the 16th that it has signed a Memorandum of Understanding (MOU) with Enbios, a specialized new drug development company, to develop pharmaceuticals and health functional food materials using medical cannabis.

They agreed to develop products based on Woori Green Science's precision cultivation and extraction technologies for medical cannabis and Enbios's technology for developing food and pharmaceutical materials derived from cannabis components.

They will conduct joint research to develop various components, including the cannabinoid (CBD) contained in cannabis, as pharmaceutical and health functional food materials.

Woori Green Science is a smart farm-based functional raw material development company established last month with investments of 5 billion KRW, 3 billion KRW, and 2 billion KRW from Woori Bio, Woori E&L, and New Optics, respectively, all affiliates of the Woori Group.

Woori Green Science continues the research on high value-added medicinal crops such as medical cannabis and marigold conducted by Woori Bio, developing and commercializing functional crop cultivation, health functional food raw materials, and pharmaceutical materials.

Enbios is a company developing trail-based targeted anticancer drugs and antibody pharmaceuticals. It has published numerous SCI(E)-level papers in Korea through research utilizing cannabinoid substances derived from medical cannabis. It also holds extensive research experience in medical cannabis, including patent applications.

Park Gilsu, CEO of Woori Green Science, said, "We will strengthen the development pipeline of various materials with safety and efficacy by discovering competitive functional materials from medical cannabis, as well as replacing expensive imported pharmaceuticals containing CBD."

Lee Daehee, CEO of Enbios, explained, "Medical cannabis contains not only CBD but also various bioactive substances, making it highly promising for pharmaceutical and functional material development. Based on our research experience with medical cannabis, we will secure competitive medical cannabis material technology with Woori Green Science."

Woori Green Science will conduct joint research with Enbios until 2024, aiming to develop materials related to brain diseases such as Alzheimer's and cognitive function improvement, as well as immune diseases such as atopic dermatitis, using medical cannabis.

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