Yuhan Corporation, Korea’s largest pharmaceutical company announced on 1 November that it has signed a Memorandum of Understanding (MoU) with Walter and Eliza Hall Institute (WEHI) of Medical Research, one of Australia’s oldest research institutions.
AUSRADE mentioned in their press release that the MoU will see Yuhan Corporation and WEHI conduct joint research on early drug development projects in common areas of interest and conduct researcher exchange programs.
‘This MoU is our first overseas joint research with a non-profit overseas research institute,’ says Yuhan’s President and CEO, Jung Hee Lee.
‘We expect that this MOU will provide Yuhan Corporation with first-in-class drug development opportunities based on basic scientific research, which is regarded as a vulnerable area for Yuhan Corporation. In particular, WEHI and Yuhan Corporation have common research areas of interest such as cancer, immune health and ageing, which is expected to generate synergy.’
Founded in 1926, Yuhan Corporation is Korea’s largest pharmaceutical company. In May, Yuhan Corporation established an Australian subsidiary in Adelaide, South Australia, and is planning to diversify joint research and commercialisation through the local subsidiary.
The 104-year-old WEHI is one of the world’s leading non-profit and non-governmental biomedical research institutes, with major research areas in cancer, immune health and infection, and development and ageing.
