Celerion to collaborate with Korean Drug Development Fund

Celerion announced on Wednesday that it will collaborate with the Korean Drug Development Fund (KDDF) to support the emerging drug discovery and development industry in South Korea.

The parties signed a Memorandum of Understanding (MOU) that will give KDDF-funded companies access to Celerion's work in clinical research and bioanalysis. Both parties will share knowledge and work to bring Korean drug discoveries to the global market.

"We are delighted to collaborate with KDDF, and provide early clinical research expertise to support and strengthen the emerging pharmaceutical industry in South Korea," Susan Thornton, the president and CEO of Celerion, said. "Our agreement with KDDF is further evidence of Celerion's enthusiasm and commitment to contributing to the growth of South Korea's biomedical research industry."

Celerion uses information gained in research discoveries to support early drug development decisions. It was started more than 40 years ago, and has since developed 750 global clinic beds.

The Korean Drug Development Fund was established in 2011 to nurture programs started by the government into sustainable growth engines with industry partners.

Through the memorandum, both organizations will be able to share their research and bioanalysis resources in order to develop innovative new drugs.