NEW Ajou University Industry-Academic Cooperation Foundation, Genesen, S&K Therapeutics Sign MOU on Development of New Drugs
Ajou University Industry-Academic Cooperation Foundation signed a memorandum of understanding (MOU) with new drug development ventures Genesen and S&K Therapeutics. The three institutions will be working closely together to commercialize treatment for autoimmune and inflammatory diseases.
A signing ceremony was held at Yulgok Hall on April 5, 2021 and attended by Industry-Academic Cooperation Foundation Director and Head of LINC+ Project Group Professor Kwon Yong-jin, Genesen CEO Lee Sung-ho, and S&K Therapeutics CEO Choi Sang-dun, who is also a professor in the Departments of Biological Sciences and Molecular Science and Technology at Ajou University.
Genesen is a venture developing new peptide drugs using molecular modeling. In 2018, it signed a technology transfer agreement, worth KRW 4 billion, for peptide-based autoimmune disease treatment candidate material developed by the research team led by Professor Choi.
This latest agreement will enable Genesen to receive the technology of a follow-up peptide candidate material developed by the Ajou University research team and expand R&D pipelines. The follow-up technology transfer is valued at around KRW 1 billion.
S&K Therapeutics, founded in 2020 by Professor Choi, who led the R&D on this technology, was also party to the agreement. It specializes in the development of small molecule therapies for inflammatory diseases.
With the agreement, Ajou University Industry-Academic Cooperation Foundation will support the commercialization of peptide drugs for autoimmune disease with Genesen and engage in strategic cooperation with S&K Therapeutics for commercialization of chemical compound therapy for inflammatory diseases. The two companies agreed to cooperate towards mutual development going forward.