Syntekabio signs anticancer compound discovery contract — targeting KRW 6T AI drug development market

[PharmNews] Syntekabio is tightening its grip on the AI drug development market, projected to grow to KRW 6 trillion annually by 2027.

Syntekabio (226330, CEO Jongsun Jeong), an AI-based drug development company, announced that it has signed a KRW 400 million drug development contract with RudaCure (CEO Yongho Kim), a company specializing in sensory disorder treatment development. The two companies plan to develop new anticancer substances by May 31, 2026.

This contract follows the recent drug candidate discovery agreement with a NASDAQ-listed company in the US last November, marking consecutive achievements.

Syntekabio assesses that these two contracts have laid the foundation for securing KRW 3 billion in revenue next year. This is significant as KOSDAQ-listed companies with annual revenue below KRW 3 billion may face administrative issues.

An industry insider stated, "Syntekabio's consecutive contract achievements are evidence that the AI drug development market is entering full-scale growth. Through collaboration with companies like RudaCure, AI new drug development is expected to generate practical outcomes."

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