SK Chemicals joins forces with biotechnology venture Oncobix

Industry

Published: 20 Apr. 2022, 15:42 Updated: 20 Apr. 2022, 16:07

SK Chemicals joins forces with biotechnology venture Oncobix

Kim Jeong-hoon, left, head of SK Chemicals' pharmaceutical research and development center, and Kim Sung-eun, CEO of Oncobix, shake hands after signing an agreement to cooperate on developing new drugs at the venture's headquarters in Yongin, Gyeonggi. [SK CHEMICALS]

SK Chemicals is joining forces with biotechnology venture Oncobix to cooperate on the development of new drugs.

Under the agreement, Oncobix will focus on discovering new drug compounds and conducting research while SK Chemicals will be in charge of conducting clinical trials and gaining approvals.

Founded in 2016, Oncobix owns the Topfomics platform which allows the company to quickly and effectively find suitable compounds for new drug candidates based on about 2.56 million candidate compounds. Oncobix discovered OBX02-011, a lung cancer treatment candidate, through the platform and has successfully finished preclinical trials. The candidate is set to start Phase 1 clinical trials soon.

The two companies will start joint research on new treatments for diseases such as cystic fibrosis and cancer.

"SK Chemicals has had many achievements in research and development in diverse sectors including the new drugs," said Kim Sung-eun, CEO of Oncobix.

"Combining Oncobix's platform and SK Chemicals' know-how in development, we will endeavor to develop new drugs in many fields."

Since 2019, SK Chemicals has been focusing on the new drug development sector by signing agreements with companies that have expertise in innovative technologies and artificial intelligence. The company is currently working with start-ups Standigm, Simplex, Deargen, inCerebro and Dr.Noah.

BY SARAH CHEA [chea.sarah@joongang.co.kr]