Singapore, June 27 -- South Korea-based SK Biopharm has signed a strategic Memorandum of Understanding (MoU) with AI corporation PhnyX Lab in Silicon Valley, United States, to establish an AI-based drug development system.

The signing ceremony took place at the SK Biopharm exhibition booth during the Bio International Convention (BioUSA) held in Boston, United States, held recently.

PhnyX Lab is an AI startup established in Silicon Valley in September 2024 by graduates of Stanford University's Department of Computer Science. The startup has developed Cheiron, a generative AI specialised in the medical field.

Through this agreement, the two companies plan to jointly develop a customised solution that automates tasks such as literature s...