Abomed, a bio venture company developing new drugs for rare and incurable diseases, opened an R&D center in the Pangyo area, Bundang-gu, Seongnam-si on the 13th.
Abomed is a global new drug development company that specializes in developing treatments for rare and intractable diseases. It is developing its own pipeline centered around experts with diverse experience in new drug development in the pharmaceutical industry.
We are developing a treatment for Wilson’s disease with the goal of entering clinical trials in 2023, and are also developing treatments targeting indications such as acute respiratory failure syndrome and hereditary hearing loss. In recognition of its high level of innovation, it attracted an investment of 12 billion won in Series A.
With the opening of this R&D center, the company is expected to accelerate the development of its own pipeline of new drugs for incurable rare diseases. Specifically, we plan and perform small molecule therapeutic substances for tumor treatment, target selection, and basic efficacy experiments. Through this, we plan to derive treatments for rare diseases for which there are no existing treatments, and further advance to early technology transfer in the non-clinical stage and joint development with global pharmaceutical companies.
Abomed Co-CEO Lim Won-bin said, “Abomed is a bio venture focused on pipeline development and has research personnel throughout the entire process, starting from early candidate materials (discovery) to business development (BD). “Thanks to the opening of this R&D center, we plan to increase our own pipeline development capabilities,” he said. “As we are moving into Pangyo, where many excellent domestic bio ventures are located, we will pursue true open innovation through continuous networking such as joint research and business development with other companies.” “We will get one step closer to that,” he said.
Park Kyo-jin, co-representative of Abomed, said, “Abomed is a bio venture with its headquarters in Korea and a corporation in the United States, and through the establishment of this research center, it has all three elements of a bio venture (head office, research center, and overseas corporation) to pioneer the global market. “We will quickly increase our own pipeline research and development capabilities to speed up global expansion,” he said.
Source: Pangyo Techno Valley Official Newsroom
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