Oncocross Expands Collaboration with JW Pharmaceutical on Developing Innovative New Drugs Using AI in Anticancer and Regenerative Medicine
May 27 2024 - 9:00AM
Business Wire
Oncocross, a Seoul-based AI drug discovery and development
biotech, announced on May 22nd that it has signed a joint research
agreement with JW Pharmaceutical to develop new drugs based on the
AI platform.
Under this contract, the two companies will join research
efforts to identify and verify development possibilities for new
indications for the 'first-in-class' drug pipeline that JW
Pharmaceutical is developing in the area of anticancer and
regenerative medicine.
For this purpose, Oncocross’s proprietary AI platform RAPTOR
AITM will be utilized. RAPTOR AITM is an AI drug development
platform that screens the optimal or additional indications for
drug candidates or existing drugs. The platform provides AI
capabilities necessary for pharmaceutical companies' new drug
development, resulting in higher accuracy, reduced cost, and
shorter development time compared to traditional methods.
Previously, the two companies signed a joint research agreement
to identify new indications for drug candidates in 2022. Through
this joint research, JW Pharmaceutical has secured positive data on
expanding an orphan disease indication for the new drug candidate
and is establishing a follow-up development plan.
Having previously verified the RAPTOR AITM technology, JW
Pharmaceutical once again expects to reduce the time required for
new indication screening and increase the probability of success in
clinical studies for the 'first-in-class' drug pipelines.
JW Pharmaceutical said, “The level of innovation we are focusing
on requires high R&D capabilities and substantial costs and
time to discover new drug candidates and indications,” adding, “We
will continue to pursue diverse partnerships with innovative local
and global biotech companies that possess new technologies such as
Oncocross.”
Dr. Yirang Kim, CEO of Oncocross commented, "This follow-on
collaboration is significant in the sense that the utility and
commercial value of RAPTOR AITM has been recognized in the market.”
He further added, “We will continue to do our best to set examples
of collaboration between large pharmaceutical companies and biotech
in the AI drug development field.”
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Oncocross Co., Ltd. Daniel Kim +82-2-867-9967
daniel.kim@oncocross.com