DAEJEON, South Korea, June 20, 2024 (GLOBE NEWSWIRE) -- Syntekabio (KOSDAQ: 226330), an artificial intelligence (AI) based drug development company, announced the signing of a strategic Memorandum of Understanding (MOU) with the global therapeutics licensing and PR platform company, bioSeedin, a subsidiary of ACROBiosystems.

Under this agreement, the two companies will collaborate to leverage bioSeedin/ACROBiosystems' global network for the promotion of Syntekabio's AI drug active compound database, STB LaunchPad, as well as its AI-driven drug discovery technologies. Given the synergies between the Syntekabio and bioSeedin offerings, the companies will jointly seek pharmaceutical clients for Syntekabio’s drug discovery technologies and compounds and bioSeedin’s global therapeutics licensing and drug development supporting network.

Jongsun Jung, PhD, CEO of Syntekabio, remarked, “With our disease-agnostic STB LaunchPad platform, we have successfully generated a wide range of hits, leads and compounds. The extensive BioSeedin/ACROBiosystems global network should help us significantly widen our range of potential customers and enable us to secure contracts with pharmaceutical companies looking to shorten drug development timelines by utilizing our active compounds.”

Jenny Zhao, CEO of bioSeedin, stated, “We see great synergies with Syntekabio’s AI capability and offerings and can now provide customers a one-stop therapeutics licensing solution to address several of their development needs. Early feedback about this joint offering has been positive and we are excited to move forward together to bring our programs and services to even more pharmaceutical companies.”

STB LaunchPad is a database of active compounds derived from Syntekabio's disease-agnostic synthetic drug candidate discovery AI platform, DeepMatcher. It contains compounds targeting over 130 proteins related to more than 15 diseases. This platform allows for the initiation of drug development from the active compound stage and enables the discovery of active compounds for desired targets.

bioseedin is a global asset transaction and media platform that provides global therapeutics licensing solutions through its network of over 7,000 pharmaceutical and biotech companies across more than 70 countries. It is a subsidiary of ACROBiosystems, a global drug development supplier and solution provider of recombinant protein, reagents, analytical kits, antibodies, and scientific services to pharmaceutical companies.