Boryung Pharmaceutical said it has signed a memorandum of understanding with MirimGENE, a drug development company, to jointly develop innovative new drugs.

MirimGENE develops new drugs to treat intractable infections and immune diseases by targeting the endogenous innate immune activator WARS1.

Based on this strategic business alliance, the two companies will collaborate to develop innovative new drugs for intractable immune diseases and strengthen the competitiveness of the pharmaceutical industry, Boryung said Wednesday.

"We are pleased to sign a business agreement with Boryung, which has excellent drug development capabilities, to accelerate the development of innovative drugs for autoimmune diseases," MirimGENE CEO Jin Mi-rim said. "We will strive to create tangible results based on this MOU with Boryung."

Boryung Pharmaceutical CEO Jang Doo-hyun said, "We expect to further enhance Boryung's competitiveness in R&D through cooperation with MirimGENE, which has the technology to develop drugs for intractable autoimmune diseases that show resistance to existing drugs."