SK Chemicals Co. announced a memorandum of understanding with NextGen Bioscience to explore joint drug development opportunities, the latest in a series of partnership overtures as the company pursues its open innovation strategy.
The non-binding agreement, disclosed Thursday, covers potential collaboration across the drug development value chain, from early-stage compound discovery through clinical trials. Both companies cited diseases with limited treatment options as their focus, though no specific projects, timelines, or financial terms were disclosed.
NextGen Bioscience, a Seoul-based startup founded in 2018, uses an AI-powered drug discovery platform called Fibrain to develop treatments for autoimmune and fibrotic conditions. The company has advanced several candidates into clinical stages, including therapies for alopecia areata and idiopathic pulmonary fibrosis, with some receiving government research funding.
For SK Chemicals, which operates pipelines in oncology and fibrotic diseases, the partnership represents another attempt to bolster its pharmaceutical portfolio through external collaborations. The company has been expanding its early-stage drug research through similar arrangements with specialized firms.
The MOU format typically signals preliminary interest rather than concrete commitment, and Korean conglomerates frequently sign such agreements that do not result in substantive joint ventures. Whether this partnership advances beyond exploratory discussions remains to be seen.
