PAREXEL was selected by the Korea Drug Development Fund (KDDF) to help Korean companies develop and commercialize healthcare products for the global market. With assets of $1 billion, the KDDF is a consortium of three health-related Korean ministries established in September 2011 to develop at least 10 new drugs by 2019 for the global market. The alliance with PAREXEL aims to enhance its development network and gain access to a broad range of drug development support services for its selected investments.
"Under the leadership of Dr. Dongho Lee, the KDDF is expected to be an important resource for emerging biopharmaceutical companies to advance their promising new technologies," said Ron Kraus, corporate vice president and worldwide head of PAREXEL Consulting and Medical Communications Services. "This partnership further demonstrates PAREXEL's continued commitment to the Asia-Pacific region and helps increase our opportunities for industry innovation. We are excited to provide our fusion of expertise to support KDDF and its mission of supporting global drug development."
"The Korea Drug Development Fund is pleased to work with PAREXEL to establish various collaborative channels providing essential Resources to Korean academic and research institutions and biopharmaceutical companies," said Dr. Dong Ho Lee, chief executive officer of KDDF. "Together with PAREXEL, KDDF will be able to provide professional consulting services to the Korean research communities to advance research activities and promote important innovation."