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Ildong Pharmaceutical [249420] announced on the 5th that Ildong has signed a joint R&D agreement with Arbormed for new drugs, including targeted treatments using low-molecular compounds.

The two companies will form a joint committee and begin carrying out new drug tasks. It also plans to cooperate in the entire process of developing and commercializing new drugs,
such as discovering candidate materials, securing patent rights, and exporting technologies. By the end of next year, two to three non-clinical candidate materials will be derived and
non-clinical research will begin in 2023.

Earlier, Ildong Pharmaceutical invested 6 billion won in ARBORMED and formed a strategic alliance with ARBORMED to discover new drug research and development and business models.

ARBORMED is a bio-venture company focusing on developing treatments for rare and incurable diseases. It is developing treatments for autoimmune diseases such as Wilson's disease,
rheumatism, and psoriasis, which accumulates copper on the body.