Chong Kun Dang pharmaceutical said on the 9th that it has established a research and development (R&D) specialist subsidiary, "NURATEON."
NURATEON held an inaugural ceremony on the previous day at the Hyojong Research Institute in the Dongbaek District of Yongin, Gyeonggi Province. About 100 executives and employees attended the event, including Choi Hee-nam, CEO of Chong Kun Dang Holdings, and NURATEON CEO Won Dong-han.
NURATEON will provide specialized services required across the entire new drug development process, including the development of novel formulations, improved drugs, generics, and over-the-counter (OTC) medicines, as well as analytical research, formulation research, and drug delivery system (DDS) research, based on the research and development capabilities and technological expertise accumulated by Chong Kun Dang pharmaceutical's Hyojong Research Institute.
The company plans to expand in-house new product development, technology transfer, and customized research and development services to broaden its customer base to domestic and overseas pharmaceutical and bio corporations, aiming to grow into a technology-centered research and development platform company.
The company name "NURATEON" combines "New Era," meaning a new era, and "Teon," part of "Technology Innovation." It reflects the aim to open a new era in the pharmaceutical industry based on technological competitiveness.
At the event, NURATEON presented its vision as a "research and development platform company that opens a new era through technology innovation," and unveiled its mission: "to contribute to human health with differentiated technology and innovative new products." It also set ▲Technology ▲Collaboration ▲Innovation as core values and announced a goal to drive future growth through strengthened technological competitiveness, open collaboration, and continuous innovation.
At the event, NURATEON presented its vision as a "research and development platform company that opens a new era through technology innovation," and unveiled its mission: "to contribute to human health with differentiated technology and innovative new products."
Won Dong-han, a senior managing director who began at Chong Kun Dang pharmaceutical's research institute, was appointed as the first CEO. After earning a Ph.D. in pharmacy from Pusan National University, Won worked for 23 years on technology research in the pharmaceutical industry and is a pharmaceutical and bio expert.
Won said, "NURATEON is a technology-based research and development platform company that provides the best services to customers and partners, grounded in outstanding research talent and expertise," adding, "We will differentiate through technology and expand through collaboration to open a new era for the future pharmaceutical industry."