Jeil Pharmaceutical said that it will partner with Oncocross, a local venture specializing in drug candidate discovery through artificial intelligence, to discover and license new indication for JPI-289, a stroke therapy candidate.
|Jeil CEO Sung Seok-je (left) and Oncocross CEO Kim Yi-rang shake hands after signing the licensing agreement at Jeil headquarters in Seocho-gu, southern Seoul, on Thursday.|
Jeil Pharmaceutical's JPI-289 is a novel stroke treatment that inhibits poly ADP ribose polymerase (PARP) enzymes involved in DNA damage and neuronal cell death caused by brain ischemia.
Under the accord, Oncocross will use its AI drug platform technology to explore other indications for JPI-289. If Oncocross finds new indications, Jeil and Oncocross will apply for joint patents, while Oncocross will further develop the substance.
"Jeil hopes to expand indications for our stroke drug candidate through the open innovation," Jeil CEO Sung Seok-je said. "Also, at a time when new drug development strategies utilizing AI are receiving the spotlight, Oncocross' outstanding AI drug platform technology will continue to be a cooperative partner for Jeil."
Oncocross CEO Kim Yi-rang also said, "In recent years, the importance of new open innovation has emerged, increasing the number of collaborations that combine AI with traditional drug development."
The company believes that AI will become an essential element in the new drug development process, and wants to make a win-win case between pharmaceutical companies and AI ventures with this contract, Kim added.
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