Merck said it has signed a memorandum of understanding (MoU) with GI Innovation, a Korean bioventure company, to further R&D efforts on critical life-saving cancer treatments and drugs for allergy-related conditions.

Under the accord, Merck will support GI Innovation with technologies and services, including the CHOZN platform, which improves the accuracy and efficiency in developing new drugs in the early stage, cell culture media, and overall process consulting and technical support, to help the latter develop immunotherapy and allergy treatments.

Merck explained that the agreement is part of Merck Life Science's long-term plan to help pharmaceutical and biotechnology companies develop and manufacture medicines safely, effectively, and cost-effectively.

"Merck's collaboration with GI Innovation aims to support its fusion protein novel drug discovery, as well as accelerate access to cancer treatments and allergy medicines to patients worldwide," said Kim Yong-seog, head of Merck Korea's process solutions and life science business. "Our deep expertise in bioprocessing development enables us to provide our customers with solutions needed to address challenges throughout the biopharma value chain."

GI Innovation CEO Hong Joon-ho also said, "With this agreement, we have the potential to reduce time and cost of manufacturing by leveraging the technical capabilities of GI Innovation and the bioprocessing expertise of Merck."

Hong added that this is the first collaboration model with Merck, and the company looks forward to producing great outcomes from the synergy created by the two companies.