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news.SK biopharmaceuticals, a South Korean biotech company, has signed an agreement with Medicilon of China, for the research and development of its novel new small molecule SKL-PSY, used to treat depression and bipolar disorder.
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The companies will complete the preclinical testing of SKL-PSY within two years with an Investigational New Drug (IND) application filing in China by Medicilon and in the US by SK biopharmaceuticals.
Accordig to the company, SKL-PSY has a relatively quick onset of therapeutic effects in animal models of depressive and manic states.
SK biopharmaceuticals president Sanghoon Park said the deal marks another move by the company to enter the potential Chinese biopharmaceuticals market.
"It is also reflects our new business model to merge a partner’s proven development capabilities with that of SK biopharmaceuticals to achieve significant efficiencies and advance our effectiveness to the next level," Park added.