CJ Healthcare said Wednesday that it has signed a memorandum of understanding with Daegu-Gyeongbuk Medical Innovation Foundation (DGMIF) to develop a new synthetic drug.

CJ Healthcare Vice President Kim Byung-man (left) and Son Moon-ho, head of DGMIF New Drug Development Support Center, signed an agreement to cooperate for developing a new synthetic drug, at the company’s research center on Tuesday.

Based on the agreement, CJ Healthcare will identify and evaluate new targets for promising new drugs, while the foundation will develop the new drug substance through ligand-based virtual screening, which analyzes protein structure and binds only to specific proteins, as well as drug synthesis and evaluation technologies.

“As a part of CJ Healthcare's ongoing innovation initiative, we will accelerate the acquisition of new drug candidates through research collaboration with DGMIF, which possesses excellent drug development capabilities,” CJ Healthcare Vice President Kim Byung-man said.

The company said it has a wide range of specialty medicines, including new drugs, biopharmaceuticals, and improved new drugs in the areas of circulation, cancer, digestion, kidney, and diabetes, and is expanding its pipeline with its research and development as well as active open innovation.

CJ Healthcare Innovation Center, which led the MOU, is an organization composed of domestic and overseas R&D and licensing experts to explore new drug candidates, license in and out, and global human networking to conduct active open innovation activities.

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