Parexel and Korea Drug Development Fund collaborate
To accelerate global drug development and commercialisation in Korea
Parexel has become the first contract research organisation to provide services to the Korea Drug Development Fund (KDDF) to help Korean companies develop and commercialise healthcare products for the global market.
The Korean Ministry of Knowledge Economy, the Ministry of Education, Science and Technology, and the Ministry of Health and Welfare set up the KDDF in September 2011 with assets of $1bn with the aim of developing at least 10 new drugs by 2019 for the global market.
Parexel will provide a range of drug development support services for selected investments. The pact follows on from a research agreement signed between Parexel and the ASAN Medical Centre (AMC), in Seoul, South Korea earlier this year.
Dong Ho Lee, ceo of KDDF, said: ‘The Korea Drug Development Fund is pleased to work with Parexel to establish various collaborative channels providing essential resources to Korean academic and research institutions and biopharmaceutical companies.
‘Together with Parexel, KDDF will be able to provide professional consulting services to the Korean research communities to advance research activities and promote important innovation.’
