Daewoong and Seoul National University Join Forces in Animal Pharmaceuticals... Joint R&D and Establishment of a Joint Venture

Sejeong Oh, President of Seoul National University (left), and Jaechun Yoon, CEO of Daewoong, are signing an agreement and posing for a commemorative photo.

[Asia Economy Reporter Lee Gwan-joo] Daewoong announced on the 23rd that it has signed a 'Memorandum of Understanding for Joint Research and Development of Animal Pharmaceuticals and Establishment of a Joint Venture' with Seoul National University.

This collaboration aims to develop animal pharmaceuticals, conduct translational research, and establish and nurture a specialized new drug development company. Over the next three years, both parties will work together on ▲research and efficacy studies of mesenchymal stem cell (MSC) therapeutics ▲development of genetic disease treatments for dogs and cats ▲efficacy verification and research of animal pharmaceuticals and medical devices ▲development and commercialization of animal health functional food products ▲cooperation and joint research and development involving faculty from the College of Veterinary Medicine.

Daewoong, through its subsidiaries Daewoong Pharmaceutical, Daewoong Pet, and Apicell Therapeutics, possesses competitive capabilities in stem cell platform 'DW-MSC' and cell and gene therapy research and development. Seoul National University College of Veterinary Medicine is a research institution with the highest level of animal clinical and R&D capabilities in Korea and is designated by the Animal and Plant Quarantine Agency as a 'Clinical Trial Institution for Animal Pharmaceuticals and Medical Devices,' which is expected to create synergy through smooth clinical progress.

Yoon Jae-chun, CEO of Daewoong, said, “We are pleased to collaborate with Seoul National University, the top domestic academic institution with advanced animal pharmaceutical development capabilities, for joint research and development and the establishment of a joint venture. Based on extensive experience in new drug and cell therapy R&D, Daewoong will expand its domestic pet healthcare business.”

Oh Se-jung, President of Seoul National University, stated, “The cooperation between Seoul National University and Daewoong to contribute to the health and welfare of animals is connected to human well-being and is a valuable effort to respond to the changing environment.”