On December 29, 2020, Handok (Chairman & CEO Young-jin Kim, Vice President Jin-ki Paik) signed an agreement with Deargen, Inc. (CEO Kilsoo Kang), a company specializing in new AI drug development, to develop new AI-based drugs.

Based on the new AI drug development platform developed and upgraded by Deargen, Handok will be able to swiftly develop new drugs and candidate substances likely to be successful. Deargen’s “DearDTI” will identify candidate substances for target proteins in a short period of time, and Handok will conduct additional verification research on the relevant substances. Handok plans to utilize AI in the development of treatments for various illnesses beginning with cancer treatment.

Early last year, Deargen gained global attention for being the first to announce the effect of remdesivir in treating Covid-19 using deep learning-based AI technology. This technology received broad recognition as Deargen was the only Korean company to be listed among the 30 leading AI drug development companies selected by Deep Pharma Intelligence (DPI) at the end of 2020.

“Handok is contemplating various ways to develop new drugs with global competitiveness by creating synergy between the company’s open innovation and leading research capacity,” said Handok R&D Center Director Byoung-gon Moon. He added, “AI enables us to process huge amounts of data at remarkable speed, which drastically reduces the development period. Collaborating with Deargen with its leading AI platform technology will accelerate the development of new drugs with global competitiveness”.

Deargen CEO Kilsoo Kang said, “We are excited to sign a new drug development contract with Handok, a pioneer in the development of the domestic bio-venture ecosystem through open innovation, acquisition of new drug development technology, and investment in startups”. He added, “This contract will be a foundation for tangible results, and we hope our two companies will continue to build a close relationship based on mutual confidence”.

Handok is strengthening its new drug pipeline and R&D competitiveness through unique open innovation, which it adopted as a future strategy in 2006 when the concept itself was new to Korea at the time. It is now collaborating with research institutes and bio-ventures at home and abroad with leading research capacity and enhancing its R&D capacity in a short period of time. It works with bio-ventures with competitive original technology, such as Genexine, SCM Lifescience, ABL Bio, and US bio-venture Rezolute to reinforce global competitiveness. It is also conducting joint research on innovative targeted therapy with CMG Pharmaceutical and National OncoVenture (NOV) and developing medical devices with NB Postech and Handok Carlos Medical Co. Handok is establishing an R&D center in Magok to improve its competitiveness in open innovation, and that center is set to be completed in November of this year.