DreamCIS and Onhill Sign MOU for Pet Pharmaceuticals Development...

Global clinical trial contract research organization DreamCIS announced on the 5th that it has signed a memorandum of understanding (MOU) with Onhill, a comprehensive pet healthcare platform company, for the development of pharmaceuticals and medical devices for pets.

The signing ceremony was attended by key representatives from both companies, including DreamCIS CEO Yoo Jeong-hee and Onhill CEO Kim Do-hyung.

Through this agreement, the two companies will promote clinical trials for new drug development through partnership and aim to advance each field. They plan to undertake various tasks such as ▲ exchanging opinions and cooperating on know-how for full-cycle new drug development services including development strategy stages, regulatory consulting, and clinical trials for pet pharmaceuticals and medical devices ▲ development strategies for commercialization of new pet drugs and medical devices ▲ exploring cooperation plans for overseas expansion.

Onhill is a specialized pet care company equipped with the only omni-channel platform in Korea for pet products and animal pharmaceuticals distribution, covering online, offline, and animal hospitals. Based on its sales capabilities including a direct transaction network with over 1,000 animal hospitals nationwide and an online platform, it has recently focused its capabilities on developing pet pharmaceuticals and medical devices such as heartworm vaccines and animal dementia treatments.

Onhill is a pet business specialist company founded by CEO Kim Do-hyung, known as the founder of the non-clinical trial contract research organization ‘Notus’, and CEO Yoo Jeong-woo, a marketing expert from CJ CheilJedang and Hanmi Pharmaceutical. Since its establishment, it has shown rapid growth with sales of 9.7 billion KRW in 2021 and 28.8 billion KRW in 2022, and recently completed a Series A investment round worth 10 billion KRW.

Kim Do-hyung, CEO of Onhill, said, “The most important aspect in developing products such as pharmaceuticals and medical devices for pets is the regulatory approval stage. Currently, the clinical trial system for pet products is not properly established, so DreamCIS’s unique clinical development know-how is absolutely necessary.”

Yoo Jeong-hee, CEO of DreamCIS, said, “As we gradually expand our business areas, we will ensure that Onhill’s pharmaceuticals and medical devices successfully enter the pet market based on this agreement. As we continue to expand our business scope, we will build a perfect network to provide clinical trial services across all fields needed by domestic bio companies in the future.”

Meanwhile, at the extraordinary general meeting of shareholders held last August, DreamCIS added new business objectives including ▲ global licensing brokerage for new drugs and medical devices ▲ development and consulting for pet and animal pharmaceuticals, medical devices, and food ▲ big data analysis of preclinical and clinical data using artificial intelligence (AI).