IIT Hyderabad inks pact with Korean drug firm to co-develop new drugs
IIT Hyderabad has signed a Memorandum of Understanding (MoU) with PharmCADD, a drug discovery company based in South Korea, to develop new drugs and advance the platform technology of the company.
IIT Hyderabad will provide PharmCADD, which uses artificial intelligence (AI) and physics/quantum-based technology, with key members to conduct academic research in the field of AI, MD simulation, and quantum calculation for new drug development. PharmCADD and IIT Hyderabad also agreed to promote collaboration by jointly participating in global R&D projects.
“PharmCADD has designed and optimised the mRNA sequence for developing the COVID-19 mRNA vaccine and the mRNA vaccine candidate has recently been applied for IND (Investigational New Drug) to begin clinical trial 1/2a study in Korea. Based on this experience, we have expanded a vaccine developing platform and enhancing the platform technology with the aid of IITH’s resources," Taehyung Kwon, chief executive officer, PharmCADD, said in a statement.
The drug design company founded a local corporation in India last month and is intensively hiring competent Indian researchers.
“IIT Hyderabad is the only institute in the country with undergraduate programmes in both biomedical engineering and biotechnology and bioinformatics. IIT Hyderabad has a dedicated faculty working on many novel techniques and drugs. This global collaboration in the field of drug development will definitely strengthen our capabilities to develop novel formulations and make a healthier society,” said IIT Hyderabad Director BS Murty.
India holds the world's third-largest AI capability, publishing 80,000 papers in the field of AI over the past five years. PharmCADD founded a local corporation in India last month and is intensively hiring competent Indian researchers.
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