Chemizon Inc. Collaborates with Korean Research Institute

February 13, 2008 -- Chemizon, a drug discovery CRO based in the US but with labs in Seoul and Beijing, will collaborate with the Korean Research Institute of Bioscience and Biotechnology (KRIBB) to commercialize KRIBB’s IP. To do this, the two entities will spin out a new biotech company. Chemizon said that its new Chemizon-Oakwood Bioventures private equity fund will be the lead investor in the new KRIBB company, currently given the working name “NuCo.” Chemizon-Oakwood Bioventures will build a management team and incubate the company. At the same time, Chemizon will use its integrated drug discovery platform to help convert KRIBB’s discoveries into small molecule therapeutics.