Celerion, a leader in early clinical research, delivers applied translational medicine, and the Korean Drug Development Fund (KDDF) have announced their collaboration to provide drug development expertise and support for the emerging drug discovery and development industry in South Korea.
The agreement in the form of a Memorandum of Understanding (MoU) provides the framework for collaborations of mutual benefit to both organisations. Companies funded by KDDF will have access to Celerion’s extensive experience and expertise in early clinical research and bioanalysis, as well as the global footprint of external partner sites. The collaboration will support a sharing of knowledge between KDDF and Celerion, and will focus on developing innovative and efficient ways to bring Korean drug discoveries to the global market. The MOU further enhances both organisations’ ability to effectively apply principles of translational medicine to the development of innovative new drugs.
“We are delighted to collaborate with KDDF, and provide early clinical research expertise to support and strengthen the emerging pharmaceutical industry in South Korea,” said Susan Thornton PhD, president and chief executive officer, of Celerion. “Our agreement with KDDF is further evidence of Celerion’s enthusiasm and commitment to contributing to the growth of South Korea’s biomedical research industry.”
“The KDDF is very happy to have established a partnership with Celerion. This collaboration is aligned to our vision to build effective partnerships between government, industry and academia,” said Dongho Lee managing director, chief executive officer, of KDDF. “Together with Celerion, KDDF will be able to provide professional consulting services to the Korean research communities to advance the research activities and promote important innovation.”
Celerion will support all programmes with KDDF, from the recently announced business expansion within the Biomedical Research Institute at Seoul National University Hospital (SNUH), in South Korea.
Signaling a new change in government-funded strategy, the KDDF was established in 2011 and operates through close management of development projects, linking grant support to the achievement of milestone-based research objectives. With a budget of US$1 billion, including private matching funds, the KDDF is an unparalleled response to the clinical demands of the 21st century.