South Korea-based SK Biopharm has signed a strategic Memorandum of Understanding (MoU) with AI corporation PhnyX Lab in Silicon Valley, United States, to establish an AI-based drug development system.
The signing ceremony took place at the SK Biopharm exhibition booth during the Bio International Convention (BioUSA) held in Boston, United States, held recently.
PhnyX Lab is an AI startup established in Silicon Valley in September 2024 by graduates of Stanford University's Department of Computer Science. The startup has developed Cheiron, a generative AI specialised in the medical field.
Through this agreement, the two companies plan to jointly develop a customised solution that automates tasks such as literature search, data analysis, and document preparation necessary for SK Biopharm's drug development process, based on the generative AI engine Cheiron from PhnyX Lab.
Cheiron has automated the entire process from literature review to report writing by analysing academic data. It has enhanced accuracy and effectiveness tailored to the pharmaceutical and biopharmaceutical industries by utilising official databases from major regulatory agencies such as the US Food and Drug Administration (FDA) and the Korean Ministry of Food and Drug Safety, as well as the Medical Subject Heading (MeSH) classification system.
Image caption- Yuchang Ho, Strategic department head of SK Biopharm (on the left) and Baimin Seok, CEO, Phoenix Lab
