Bukwang Subsidiary Conterapharma Establishes New Research Institute

Conterapharma, a subsidiary of Bukwang Pharmaceutical, established a new headquarters and research institute at DTU Science Park in Hørsholm, Denmark, and held an opening ceremony. (Photo by Bukwang Pharmaceutical)

[Asia Economy Reporter Chunhee Lee] Bukwang Pharmaceutical's subsidiary Contera Pharma recently held an opening ceremony for its new research laboratory equipped with state-of-the-art facilities at its research center in DTU Science Park, Hørsholm, Denmark.

Contera Pharma is a Denmark-based bio-venture specializing in central nervous system disorder treatments, with several pipelines including 'JM-010,' a treatment for Parkinson's disease-related dyskinesia. The company previously secured approximately 50 billion KRW in Series B funding.

The opening ceremony began with a speech by Thomas Sager, CEO of Contera Pharma, followed by a tour explaining the new research facilities. About 50 attendees included executives and employees from Bukwang Pharmaceutical, OCI, Mirae Asset Securities?the lead underwriter for the IPO?as well as global companies such as Lundbeck and Roche.

Contera Pharma was founded in 2010 by chemists John Bondo Hansen and Mikael Thomsen, both formerly of Novo Nordisk. In 2014, it was acquired as a 100% subsidiary of Bukwang Pharmaceutical. At the end of 2020, the company recruited several new executives with extensive experience in multinational pharmaceutical companies, including Dr. Thomas Sager, former Vice President of Lundbeck; Dr. Anders Brandt Elvang, former business development executive at Lundbeck; and Dr. Kenneth Vielsted Christensen, former research director at Servier France, who conducted research on treatments for Parkinson's disease and other neurological disorders.

Contera Pharma has developed a drug discovery platform called NOVA and continues to develop treatments for intractable rare neurological diseases with no existing therapies. To meet the growing need for additional researchers and expanded research facilities, the company relocated its research center and headquarters to DTU Science Park, which hosts numerous bio-venture companies.

A representative from Bukwang Pharmaceutical stated, “With the establishment of Contera Pharma’s new research laboratory, equipped with sufficient personnel and facilities, independent research and development activities will become more active, and we expect rapid achievements as a result.”