Yuhan Corporation has signed a memorandum of understanding for strategic alliance with Imperial College London to participate in the “ICiC (Imperial Confidence in Concept)” program and fund their proof of concept collaborative projects as an industry partner.
The ICiC program promotes the transition of academic research into novel therapeutic development by distributing grants from the British government, institutions, and companies to promising translational research projects. Major research areas of Imperial College’s ICiC include cancer, immunology, infection, fibrosis, cognitive science, and therapeutic development.
Through participation in this program, Yuhan will provide research funds to Imperial College and conduct joint research on initial new drug development projects in the field of interest.
Yuhan expects that the combination of Yuhan’s expertise in the drug development and Imperial College London’s innovative basic science research will create synergy in the development of global innovative drugs.
Jung-Hee Lee, CEO of Yuhan Corporation, said, “This collaboration with Imperial College London, which is part of our global open innovation strategy, will strengthen our R&D pipeline and provide a foothold for Yuhan to enter the European market.”