Merck Signs Strategic Agreement with GI Innovation to Facilitate Biomedicine Development in Korea
News Release
- Alliance to focus on accelerating immuno-oncology drug and allergy therapy development & manufacturing
- Merck to provide technologies and services, including CHOZN® platform, cell culture media, and downstream process development
Seoul, South Korea, November 11, 2021 – Merck, a leading science and technology company, today announced the signing of a Memorandum of Understanding (MoU) with local bio-venture company, GI Innovation, to further research and development of critical life-saving cancer treatments, as well as drugs for allergy-related conditions.
“Merck’s collaboration with GI Innovation aims to support its novel, fusion protein drug discovery, as well as accelerate access to cancer treatments and allergy medicines to patients worldwide,” said Yong-seog Kim, Head of Process Solutions, Life Science business sector of Merck in Korea. “Our deep expertise in bioprocessing development enables us to provide our customers with solutions needed to address challenges throughout the biopharma value chain.”
Through the mutual agreement, Merck will support GI Innovation with technologies and services including CHOZN® platform, cell culture media, and overall process consulting and technical support.
“With this agreement, we have the potential to reduce time and cost of manufacturing by leveraging the technical capabilities of GI Innovation and the bioprocessing expertise of Merck,” said Joonho Hong, CEO of GI Innovation. “As this is the first collaboration model with Merck, I look forward to great outcomes from the synergy we create from both companies,” he added.
The MoU outlines Merck’s long-term plan in supporting pharmaceutical and biotech companies to develop and manufacture drugs safely, effectively, and cost efficiently.
About Merck
Merck, a leading science and technology company, operates across healthcare, life science, and electronics. Around 58,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene-editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2020, Merck generated sales of € 17.5 billion in 66 countries.
Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Electronics.
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