Caregen signs MOU with Knotus for veterinary business
March 19th, 2021
Peptide-based biotechnology company Caregen(CEO YJ Chung) and non-clinical CRO company Knotus(Co-CEO In-Sung Jeong, Co-CEO Do-Hyung Kim) have signed a memorandum of understanding(MOU) for the development of new drugs for veterinary medicine and functional feed.
While the growth of the animal medical, food and goods market is accelerating due to changes in perception of companion animals, the two companies have begun to strengthen cooperation to newly lead the domestic animal medicine and functional feed market and expand to the global market.
Through this MOU, Caregen will apply its own peptides to animal medicine and feed, while Knotus will conduct research and development on new animal medicine and functional feed by utilizing CRO projects, professional human resources and facilities linked to the nation's largest animal hospital.
Caregen CEO YJ Chung said, "Currently, there is a growing sense of responsibility for pets, and demand for vaccination, treatment, and diagnosis continues to rise. Caregen has the highest level of peptide development and research capabilities in Korea, and Knotus is already in the process of pet business based on partnerships with leading animal hospital groups in Korea. With this MOU, we expect synergies in resolving the unfulfilled demand for the pet business and the development of new animal medicine and functional feed with global competitiveness."
Knotus CEO Do-Hyung Kim said, "This collaboration with Caregen is an example of incorporating the technology of outstanding bio-ventures developed for humans into the animal bio market and presents a new business expansion model for bio companies. We will leave an excellent example of the development of new animal medicines through close cooperation.”
While the growth of the animal medical, food and goods market is accelerating due to changes in perception of companion animals, the two companies have begun to strengthen cooperation to newly lead the domestic animal medicine and functional feed market and expand to the global market.
Through this MOU, Caregen will apply its own peptides to animal medicine and feed, while Knotus will conduct research and development on new animal medicine and functional feed by utilizing CRO projects, professional human resources and facilities linked to the nation's largest animal hospital.
Caregen CEO YJ Chung said, "Currently, there is a growing sense of responsibility for pets, and demand for vaccination, treatment, and diagnosis continues to rise. Caregen has the highest level of peptide development and research capabilities in Korea, and Knotus is already in the process of pet business based on partnerships with leading animal hospital groups in Korea. With this MOU, we expect synergies in resolving the unfulfilled demand for the pet business and the development of new animal medicine and functional feed with global competitiveness."
Knotus CEO Do-Hyung Kim said, "This collaboration with Caregen is an example of incorporating the technology of outstanding bio-ventures developed for humans into the animal bio market and presents a new business expansion model for bio companies. We will leave an excellent example of the development of new animal medicines through close cooperation.”
