Dongkook Pharmaceutical said it signed a memorandum of understanding with Oncovix to commercialize functional materials at its headquarters office in Cheongdam-dong, southern Seoul, last Friday.
Through this agreement, the two companies will jointly develop new drugs with antibacterial and anti-inflammatory effects using natural products, including “TECA,” based on Centella Asiatica used for wound treatment and functional cosmetics, and “ETIZM,” the main ingredient of Dongkook’s gum treatment Insadol.
The two companies will expand the research area by applying TOFPOMICS, a drug discovery platform using AI (OpenAI) developed by Oncovix, to drug design for various disease groups. In addition, by securing exclusive intellectual property rights to Oncovix's latest drug development trends and expanding its pipeline, Dongkook plans to increase market share further by expanding its portfolio of new anticancer drugs.
"Extracts of key ingredients contain various active ingredient profiles due to the nature of natural products, but there are only a few products on the market with limited active ingredients and effects," said Park Shin-jeong, managing director of Dongkook Pharmaceutical, who attended the signing ceremony. "By utilizing Oncovix's TOFPOMICS AI drug discovery platform technology, we will derive additional active ingredients that exhibit pharmacological activity in addition to the currently known active ingredients and effects and expand to the development of therapeutic and specialty drugs for various diseases along with the discovery of innovative and improved drugs."
Oncovix CEO Kim Seong-eun said, "We are pleased to collaborate with Dongkook Pharmaceutical, a company with more than 50 years of experience, through our recently advanced AI platform technology, TOFPOMICS. Through TOFPOMICS technology, we will do our best to develop innovative new drugs in various fields with unmet demand and improved drugs for Dongkook Pharmaceutical's key assets."
Dongkook Pharmaceutical said it is expanding its areas of strength by developing competitive and differentiated products and co-promotion original items to discover new growth areas continuously.