(Health Korea News / Lee Si-woo) Neoken Bio (CEO Hahm Yeop, CEO), a raw drug manufacturing company using medical hemp, is joining hands with Hallym Pharmaceutical (CEO Kim Jeong-jin), a company specializing in eye treatment products, to promote the development of new drugs derived from hemp.
On the 8th, NaikenBio signed a Material Transfer Agreement (Material Transfer Agreement) for new drug development with Hallym Pharmaceutical, Sangmyung Innovation (CEO Park Jin-ha), a subsidiary specializing in new drug development of Hallym Pharmaceutical, and Quad Medison (CEO Baek Seung-gi), a medical microneedle platform company. MTA) was announced.
Through this agreement, NeokenBio will provide cannabinoids, hemp-derived exosomes, and hemp-derived polydeoxyribonucleotides (PDRN) to the three companies. Each company plans to jointly develop microneedle-based functional cosmetics and osteoarthritis treatments using transdermal drug delivery technology and eye transplants for the treatment of intraocular diseases related to neovascularization through previous materials provided by NeokenBio. .
NeokenBio’s main business is the development, production, and sales of finished products such as medicines, foods, and cosmetics using cannabidiol (CBD), which is used as a raw pharmaceutical ingredient. In particular, by building an extensive library of hemp-derived natural cannabinoids, derivative synthesis, and metabolites for the first time in Korea, we have laid the foundation for discovering new efficacy, content testing service, and raw material production.
According to the Korea Biotechnology Association’s report on ‘Domestic and international regulatory trends for industrial use of hemp’, the size of the global hemp market in 2025 is estimated at 200 trillion won. The medical cannabis market is expected to grow at an average annual rate of 22.1% and reach 51 trillion won in 2024.
Currently, many countries are legalizing the medical hemp industry. The development of new drugs using hemp-derived cannabinoids is actively taking place around the world, and more than 400 clinical trials are underway worldwide. Various products are being developed in fields such as food and cosmetics.
Neoken Bio CEO Jeong Hae-yeop told Health Korea News on this day, “Based on Korea’s largest cannabinoid library and high-quality mass production technology, we will expand the development of new cannabinoid drugs through collaboration with domestic and foreign pharmaceutical companies and drug delivery system platforms.” “We will do it,” he said.
Copyright © Health Korea News Unauthorized reproduction and redistribution prohibited
Source: www.hkn24.com
