Samjin Pharmaceutical (CEO Choi Yong-joo) announced on the 2nd that it has signed a contract with Cyclica, a Canadian artificial intelligence (AI) new drug development platform company, for joint research on AI new drug development.

Through this agreement, Samjin Pharmaceutical plans to propose multiple drug targets currently under review to Cyclica, and Cyclica plans to quickly secure candidate materials with high development potential by applying its AI-based new drug candidate material discovery platform (Ligand DesignTM, Ligand Express®).

Lee Soo-min, head of Samjin Pharmaceutical’s research center, said, “A joint study using AI technology with Cyclicala has significantly reduced the time and cost of developing new drugs, and this also has rapid scalability. In the future, Samjin Pharmaceutical will continue to cooperate with leading domestic and foreign research institutes and companies to efficiently discover and develop innovative new drugs through open innovation strategies.

Through this joint study, we hope to combine Samjin Pharmaceutical’s new drug development know-how and its new drug development platform to target protein targets that have been difficult to target, said Naheed Kurji, CEO of Cyclica.

Meanwhile, Cyclica was selected as one of the world’s 13 healthcare AI startups by CB Insights, a technology market research institute in 2020, and is currently conducting joint research with a number of domestic and foreign companies including global Big Pharma such as Merck KGaA and AstraZeneca.

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