JW Pharmaceutical has shared an excellent example of R&D cooperation between South Korean and Danish companies.
JW Pharmaceutical introduced its partnership strategy with "LEO Pharma," a global leader in skin diseases, at a seminar marking the 60th anniversary of Korea-Denmark diplomatic ties in Seoul on May 21.
The event, co-hosted by LEO Pharma and the Danish Embassy in Seoul, was attended by more than 100 people, including Danish Crown Prince Frederic, Danish Ambassador to South Korea Thomas Lehmann, and executives from JW Pharmaceutical and LEO Pharma.
LEO Pharma showcased "Open Innovation Platform," which allows outside partners to test and evaluate candidate materials for free, and "LEO Science & Tech Hub," which transforms early-stage R&D tasks into groundbreaking solutions.
Kim Domela Kjøller, vice president of LEO Pharma Global R&D, said, "So far, I am confident in the effectiveness as well as the safety of clinical results," said Kim Domela Kjøller, vice president of LEO Pharma Global R&D. "Next year, JW Pharmaceutical's new drug atopy could go global."
"LEO Pharma had a lot of communication with JW Pharmaceutical, and we had a lot of interaction to sign the contract," said Kim. "How fast they signed the contract is a case in point that shows how well they were in harmony with Korea. Such deals are so complicated that they are rarely concluded in a year. I think it's the best partnership so far."
JW Pharmaceutical signed an agreement with LEO Pharma in August last year to export its technology to the atopic dermatitis drug JW1601. The total contract amounts to $42 million. JW Pharmaceutical is currently undergoing clinical first-phase trials.
The global market for atopic therapy was worth $4.575 billion in 2016 and is expected to grow rapidly to $7.3 billion by 2024, according to market researcher Global Data.