Oncocross, a biotech company specializing in AI drug discovery and development based in Seoul, declared on May 22nd that it has partnered with JW Pharmaceutical in a collaborative research effort to create novel medications utilizing the AI platform.
As part of this agreement, JW Pharmaceutical and the two firms will pool their research resources to find and validate potential new uses for their “first-in-class” therapeutic pipeline, which focuses on regenerative and anticancer therapy.
RAPTOR AITM, a proprietary AI platform developed by Oncocross, will be used for this purpose. An artificial intelligence (AI) drug development platform called RAPTOR AITM finds the best or extra uses for new or current medications. When compared to traditional approaches, the platform’s AI capabilities enable pharmaceutical companies to produce novel drugs with more accuracy, lower costs, and shorter development times.
In the past, the two businesses agreed to collaborate on research to find new uses for medicine prospects by 2022. JW Pharmaceutical is creating a follow-up development plan and has obtained favorable evidence about the expansion of an orphan disease indication for the new drug candidate through this collaborative research.
JW Pharmaceutical hopes to decrease the time needed for novel indication screening and raise the likelihood of success in clinical studies for the “first-in-class” drug pipelines, having previously verified the RAPTOR AITM technology.
JW Pharmaceutical stated, “We will continue to pursue diverse partnerships with innovative local and global biotech companies that possess new technologies, such as Oncocross.” The company also stated, “The level of innovation we are focusing on requires high R&D capabilities, substantial costs and time to discover new drug candidates and indications.”
“This follow-on collaboration is significant in that the utility and commercial value of RAPTOR AITM has been recognized in the market,” stated Dr. Yirang Kim, CEO of Oncocross. “We will keep trying to set examples of collaboration between large pharmaceutical companies and biotech in the field of AI drug development,” he continued.
