Published on January 27, 2010 at 4:03 AM
Asan Medical Center and Chemizon, the drug discovery division of
Optomagic, Co. Ltd. (KOSDAQ: OPTOMAGIC [A010170]), announced today that
they have entered into a multi-year research collaboration to discover
and develop novel, small molecule oncology therapeutics.
“This is a unique opportunity in the Korean Life Science industry that
leverages the strengths of two world class organizations to accelerate
the discovery and development of small molecule oncology therapeutics.
We are pleased to be working with Chemizon’s oncology team and look
forward to a successful collaboration”
As part of this partnership, Chemizon will utilize its discovery
platform that includes Lead Identification, Medicinal Chemistry,
Computational Chemistry, ADME/DMPK, and Discovery Biology, while Asan
Medical Center will be responsible for conducting animal pharmacology
studies and translational medicine research, with the goal of creating
novel small molecule candidates that target cancer including Asian
prevalent cancers. Financial terms were not disclosed.
“This is a unique opportunity in the Korean Life Science industry that
leverages the strengths of two world class organizations to accelerate
the discovery and development of small molecule oncology therapeutics.
We are pleased to be working with Chemizon’s oncology team and look
forward to a successful collaboration,” said Dr. Jungshin Lee, President
of Asan Medical Center. “As the cost of developing breakthrough
therapeutics continues to escalate, the future lies in innovative
partnerships. Asan has assembled a world class translational medicine
team and is an oncology clinical trial center of excellence. We are
excited by the abundant synergies that will be established through this
collaboration," added Dr. Anthony Piscopio, Chairman and CEO of Chemizon.
Source: Asan Medical Center