Caregen signs MOU with
Knotus for veterinary business Peptide-based
biotechnology company Caregen(CEO YJ Chung) and non-clinical CRO company
Knotus(Co-CEO In-Sung Jeong, Co-CEO Do-Hyung Kim) have signed a memorandum of understanding(MOU)
for the development of new drugs for veterinary medicine and functional feed. While
the growth of the animal medical, food and goods market is accelerating due to
changes in perception of companion animals, the two companies have begun to strengthen
cooperation to newly lead the domestic animal medicine and functional feed
market and expand to the global market. Through
this MOU, Caregen will apply its own peptides to animal medicine and feed,
while Knotus will conduct research and development on new animal medicine and
functional feed by utilizing CRO projects, professional human resources and
facilities linked to the nation's largest animal hospital. Caregen
CEO YJ Chung said, "Currently, there is a growing sense of responsibility
for pets, and demand for vaccination, treatment, and diagnosis continues to
rise. Caregen has the highest level of peptide development and research
capabilities in Korea, and Knotus is already in the process of pet business
based on partnerships with leading animal hospital groups in Korea. With this
MOU, we expect synergies in resolving the unfulfilled demand for the pet business
and the development of new animal medicine and functional feed with global
competitiveness."
Knotus
CEO Do-Hyung Kim said, "This collaboration with Caregen is an example of
incorporating the technology of outstanding bio-ventures developed for humans into
the animal bio market and presents a new business expansion model for bio
companies. We will leave an excellent example of the development of new animal
medicines through close cooperation.” |