CrystalGenomics-Paminogen Collaborate on Medical Cannabis New Drug Development

CrystalGenomics logo (Photo by CrystalGenomics)

[Asia Economy Reporter Lee Chun-hee] CrystalGenomics and Paminogen announced on the 13th that they will embark on the development of a complex new drug candidate derived from medical hemp (HEMP) as their first task in discovering innovative new drugs using artificial intelligence (AI).

The two companies plan to develop a new drug candidate combining CrystalGenomics' COX-2 inhibitory arthritis pain relief and anti-inflammatory drug 'Aselex (generic name: Polmacoxib)' with specific substances derived from HEMP such as tetrahydrocannabinol (THC) and cannabidiol (CBD), which have analgesic and sedative effects, aiming to develop treatments for Alzheimer's disease.

CrystalGenomics will provide Polmacoxib raw materials and data, conduct animal efficacy experiments, drug evaluation, formulation research and development, and clinical trial development. Paminogen will utilize 'LucyNet,' a high-speed new drug development platform built on AI quantum mechanics-based software and bio big data, to discover and supply optimal HEMP-derived specific substances that can produce synergy when combined with Polmacoxib.

Paminogen has been approved by the Ministry of Food and Drug Safety as a 'narcotics handler and narcotics academic researcher' and was selected as a 'Gyeongbuk Industrial HEMP Regulatory Free Zone Operator.' Since 2020, it has been conducting research on HEMP cultivation based on ICT smart farms and AI-based prediction and verification of HEMP active ingredient effects in Andong City, Gyeongbuk Province.

According to industry sources, the current global market size for CBD is $4.9 billion (approximately 6.4 trillion KRW) and is expected to grow to $47 billion (approximately 61 trillion KRW) by 2028.

Kim Young-hoon, CEO of Paminogen, said, “With the introduction of LucyNet, we will reduce the time and cost required to discover the optimal HEMP-derived specific substances that can produce synergy when used in combination with Polmacoxib, enabling the development of leading complex new drugs.”