▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | GreenCity | Italian Channel Awards | Italian Project Awards | ...
InnovationOpenLab

Oncocross Expands Collaboration with JW Pharmaceutical on Developing Innovative New Drugs Using AI in Anticancer and Regenerative Medicine

#AI--Oncocross, a Seoul-based AI drug discovery and development biotech, announced on May 22nd that it has signed a joint research agreement with JW Pharmaceutical to develop new drugs based on the AI...

Business Wire

SEOUL, South Korea: #AI--Oncocross, a Seoul-based AI drug discovery and development biotech, announced on May 22nd that it has signed a joint research agreement with JW Pharmaceutical to develop new drugs based on the AI platform.

Under this contract, the two companies will join research efforts to identify and verify development possibilities for new indications for the 'first-in-class' drug pipeline that JW Pharmaceutical is developing in the area of anticancer and regenerative medicine.

For this purpose, Oncocross’s proprietary AI platform RAPTOR AITM will be utilized. RAPTOR AITM is an AI drug development platform that screens the optimal or additional indications for drug candidates or existing drugs. The platform provides AI capabilities necessary for pharmaceutical companies' new drug development, resulting in higher accuracy, reduced cost, and shorter development time compared to traditional methods.

Previously, the two companies signed a joint research agreement to identify new indications for drug candidates in 2022. Through this joint research, JW Pharmaceutical has secured positive data on expanding an orphan disease indication for the new drug candidate and is establishing a follow-up development plan.

Having previously verified the RAPTOR AITM technology, JW Pharmaceutical once again expects to reduce the time required for new indication screening and increase the probability of success in clinical studies for the 'first-in-class' drug pipelines.

JW Pharmaceutical said, “The level of innovation we are focusing on requires high R&D capabilities and substantial costs and time to discover new drug candidates and indications,” adding, “We will continue to pursue diverse partnerships with innovative local and global biotech companies that possess new technologies such as Oncocross.”

Dr. Yirang Kim, CEO of Oncocross commented, "This follow-on collaboration is significant in the sense that the utility and commercial value of RAPTOR AITM has been recognized in the market.” He further added, “We will continue to do our best to set examples of collaboration between large pharmaceutical companies and biotech in the AI drug development field.”

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

Axyon AI: Italian Artificial Intelligence for Finance applications

Axyon AI offers an AI platform specifically designed for asset management, with several interesting strengths for those approaching machine/deep learning…

Italian Artificial Intelligence tackles medical emergencies at sea

Mermaid-AI is a telehealth platform at sea based on a visor equipped with an AR, medical Artificial Intelligence algorithms, satellite communications…

Gyala: a new "Made in Italy" cybersecurity

With a proven track record in the defence field, Gyala now also brings its cybersecurity technologies to the wider enterprise audience

ITALIAN PROJECT AWARDS 2023: the best IT projects of the year, awarded

Now in its third edition, the initiative is targeted at the ICT professional world and honours projects based on innovative ideas and technologies, realised…

Most read

AHSG Announces Leadership Transition as CEO Mark Smith Joins Board of…

AHSG, a technology-driven, healthcare workforce solutions company, today announced Mark Smith will be stepping down at the end of June as Chief Executive…

Verituity Raises $18.8M to Accelerate its B2B and B2C Verified Payout…

Verituity, a leading provider of intelligent, verified payouts solutions, announced the successful close of an $18.8 million funding round led by Sandbox…

HubStar Launches H2O, a Revolutionary New Approach to Optimizing Occupancy…

HubStar, a leader in dynamic workplace management technology, today announced the launch of H2O, the first ever hybrid occupancy platform designed to…

SMILE Health 2024: CareQuest Innovation Partners and MATTER Announce Largest…

CareQuest Innovation Partners, a company focused on validating and scaling transformative solutions to improve overall health through oral health for…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!