Korea and Australia strengthen research ties in early drug development
01 Nov 2019
Korea’s Yuhan Corporation announced on 1 November that it has signed a
Memorandum of Understanding (MoU) with one of Australia’s oldest research
institutions, the 104-year-old Walter and Eliza Hall Institute (WEHI) of
WEHI is one of the world’s leading non-profit and non-governmental
biomedical research institutes, with major research areas in cancer, immune
health and infection, and development and ageing.
The MoU will see Yuhan Corporation and WEHI conduct joint research on early
drug development projects in common areas of interest and conduct
researcher exchange programs.
In addition, a doctor-level researcher’s exchange program will be
implemented. The program will provide Yuhan Corporation’s researchers with
more in-depth scientific research experience and the WEHI’s researchers
with R&D experience in new drugs in industry.
‘This MoU is our first overseas joint research with a non-profit overseas
research institute,’ says Yuhan’s President and CEO, Jung Hee Lee.
‘We expect that this MOU will provide Yuhan Corporation with first-in-class
drug development opportunities based on basic scientific research, which is
regarded as a vulnerable area for Yuhan Corporation. In particular, WEHI
and Yuhan Corporation have common research areas of interest such as
cancer, immune health and ageing, which is expected to generate synergy.’
In May, Yuhan Corporation established an Australian subsidiary in Adelaide,
South Australia, and is planning to diversify joint research and
commercialisation through the local subsidiary.
Founded in 1926, Yuhan Corporation is Korea’s largest pharmaceutical
company. It manufactures and markets pharmaceutical products on its own and
through joint ventures with other global pharmaceutical companies.