From the left, Kim Young-kwan, CEO of Polaris AI Pharma, Ryan Ma, Executive Director of Marketing at WooSi App Tech, Steve Yang, Co-CEO, and Jo Seok-young, General Manager, are taking a commemorative photo after signing a business agreement. Photo by Polaris AI Pharma
Polaris AI Pharma announced on the 6th that it has signed a comprehensive memorandum of understanding (MOU) for mutual cooperation in the pharmaceutical and healthcare business with Wuxi AppTec, a global contract research, development, and manufacturing organization (CRDMO).
Through this collaboration, both companies plan to continue working together on a project basis, with a particular focus on developing artificial intelligence (AI) models specialized in the pharmaceutical domain.
Polaris AI Pharma is a raw material pharmaceutical company with global export capabilities in Japan, Latin America, Southeast Asia, and Europe. Recently, it successfully registered and commercialized the raw material pharmaceutical ‘Roxatidine Acetate Hydrochloride’ for duodenal ulcer treatment with the National Medical Products Administration (NMPA) of China, laying the foundation for entry into the Chinese market.
Additionally, Polaris AI Pharma is jointly developing ‘Pharmaceutical ASK-Doc’ using Polaris Office and Retrieval-Augmented Generation (RAG) technology, striving to enhance corporate value through the development of AI models specialized in the pharmaceutical domain.
Steve Yang, Co-CEO of Wuxi AppTec, said, “We are pleased to sign a comprehensive MOU with Polaris AI Pharma. Based on Wuxi AppTec’s integrated research and development service capabilities and diverse experience, we will be the optimal partner cooperating with Polaris AI Pharma, which is dedicated to developing AI models specialized in the pharmaceutical domain.”
Kim Young-kwan, CEO of Polaris AI Pharma, stated, “Through this agreement, we will contribute to improving AI-based research and development capabilities by leveraging the research and development service capabilities and diverse experience of Wuxi AppTec, a global CRDMO company. Furthermore, we will expand exports and increase the number of Japanese export items, which require very stringent quality control and technical verification, in our core raw material pharmaceutical business, restructuring towards an export-oriented profit structure in the era of high exchange rates.”
Meanwhile, Polaris AI Pharma was incorporated into the Polaris Office Group in March 2024 and changed its name to Polaris AI Pharma to reflect its future-oriented business intentions. Currently, it plans to enhance R&D efficiency by integrating AI technology into the raw material pharmaceutical development process, aiming to reduce costs and accelerate generic drug development.
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