The KDDF (Korea Drug Development Fund) and PAREXEL have entered into a contract to seek ways to strengthen domestic new drug development capability.

KDDF announced that it has made an MOU at the Head Office of PAREXEL, located in Boston, last June 19 (local time in Boston).

The agreement is significant because has created the first global network since the inception of KDDF.

Through this contract, the KDDF: △ Seeks various cooperation methods helpful to all domestic research institutions inside or outside business matters. △ Aims to globalize domestic new drug development capability through the benchmarks of advanced countries.

△ Intends to build a close cooperation system with PAREXEL in its human resource training program, necessary for new drug development, which is one of KDDF’s major projects to be processed.

DH Lee, President of KDDF, said, “I am pleased to have built various channels capable of providing essential resources to academies, research institutions, and biopharmaceutical companies. Through collaboration with PAREXEL, the full-cycle R&D entity of the KDDF that develops & supports superior projects with an aim to develop new drugs globally, will seek various cooperative measures allowing for the provision of practical help to all domestic R&D institutions & companies.”

He also said, “Through this MOU, the capability of domestic new drug development will be strengthened and the likelihood of success will be maximized through active and specialized consulting roles, not to mention boosting the ability to develop new drugs domestically.”

Ron Kraus, Corporate Vice President, said, “While fostering various new biopharmaceutical companies developing their new technologies, KDDF evaluates the feasibilities and provides support. Therefore, PAREXEL will collaborate with the KDDF by providing technology support in accordance with its mission of supporting global drug development. This partnership is expected to provide many opportunities not only for KDDF, but also PAREXEL, to promote innovation in these companies.”

Further, PAREXEL took an unexpected but appreciated step to strengthen the cooperative relationship by officially announcing the MOU contract with KDDF on the 18th (local time) to Japan, Australia, China, and India through its global network.

[Reference] Photo of MOU contract

Photo: Left) Dongho Lee, President, KDDF;  Right) Gadi Saarony, Senior Vice President, PAREXEL