AI new drug development specialist company Syntekabio announced on the 19th that it has signed a Memorandum of Understanding (MOU) with the U.S. clinical research organization (CRO) Target Health for new drug development clinical trials and global business development.
Through the MOU, they will discuss the localization strategy in the U.S. for Syntekabio’s AI new drug cloud service ‘STB CLOUD’ and the synthetic new drug candidate discovery AI platform ‘DeepMatcher®’. They also agreed to cooperate on long-term business development and expansion in the U.S., Europe, and Asian markets.
They plan to collaborate with Target Health in discovering potential customers and agency contracts necessary for entering overseas markets, clinical data analysis, and discovering new projects.
Target Health is a clinical research organization established in New York, U.S., by Dr. Jules T. Mitchel. It performs new drug development clinical trial design and consulting, data management, and regulatory support through its proprietary clinical data management system.
Joonhyuk Choi, CEO of Target Health, said, "We are pleased to introduce Syntekabio, a leading AI new drug development company’s AI solutions to the U.S. market," adding, "By utilizing Syntekabio’s AI new drug platform and Target Health’s clinical trial management system, we will expand our market influence on global clinical trials through close cooperation."
Jongsun Jung, CEO of Syntekabio, explained, "We have high expectations for establishing a cooperative relationship with Target Health, which has extensive experience and expertise in the U.S., the world’s largest pharmaceutical and clinical trial market," and added, "We will accelerate our entry into overseas markets with advanced AI new drug solutions."
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