Ujeong Bio-CNR Research Sign MOU for New Drug Development and Collaboration

[Asia Economy Reporter Jang Hyowon] Woojung Bio announced on the 26th that it signed a strategic business partnership agreement (MOU) on joint research and development and investment in global new drugs with C&R Research, the No. 1 clinical trial contract research organization (CRO) in Korea, at its headquarters in Gwanggyo, Gyeonggi-do on the 25th.

Through this agreement, the two companies will closely cooperate in areas such as ▲ joint research, development, education, and investment for new drug development commercialization ▲ infrastructure cooperation to promote new drug development projects ▲ providing accurate data and solutions in early non-clinical and clinical stages ▲ non-clinical and clinical trials and cooperation for regulatory approval ▲ sharing strategies for expanding and advancing global non-clinical and clinical trials ▲ discovering and incubating promising startups ▲ utilizing professional talent pools and resources based on industry-academia-research partnerships.

Yoon Muntae, CEO of C&R Research, said, “The key to new drug development is building strategic trial data,” adding, “Collaboration with Woojung Bio in non-clinical and clinical trials is expected to enhance the efficiency of new drug development and lead the domestic and international new drug development markets.”

Cheon Byeongnyeon, CEO of Woojung Bio, said, “Woojung Bio is establishing a company-friendly process that designs experiments meeting the needs of new drug developers from startups and venture companies, clinical trials, and large pharmaceutical companies, enabling them to achieve practical goals,” and added, “Therefore, the cooperation between C&R Research and Woojung Bio is expected to realize the dream of innovative one-stop new drug development.”

According to the agreement, Woojung Bio, as a specialized non-clinical CRO company, will predict clinical stage results of candidate substances through evaluations and screening technologies such as efficacy evaluation, toxicity evaluation, and immuno-oncology evaluation platforms in the early non-clinical stage, selecting promising candidates, while C&R Research will conduct clinical trials with the selected candidate substances.

Meanwhile, the two companies will serve as incubators to discover and nurture new drug development startups by utilizing abundant research and development infrastructure and will mutually cooperate to enter the global market.