The country's first and only radiopharmaceutical specialty company jointly established by a university, an industry partner, and a hospital will be launched at Jeonbuk National University (JBNU).

JBNU, Jeonbuk National University Hospital (Hospital Director Jeong Seong‑hu), and Saehan Industries Co., Ltd. (Chairman Kim Cheol‑jong) held a signing ceremony on the morning of December 6 in the university headquarters conference room and agreed to establish Kaibiotech Co., Ltd., the fourth subsidiary of Jeonbuk Technology Holding Company.

Saehan Industries Co., Ltd. will contribute approximately KRW 6 billion in cash, and Jeonbuk Technology Holding Company will invest approximately KRW 500 million in cash. JBNU will provide its patents related to radiopharmaceuticals, the on‑campus site for the facility, and superior research infrastructure.

Kaibiotech Co., Ltd., to be established on the JBNU campus, will occupy approximately 990 m², is scheduled to break ground in 2013, and aims to be completed within one year.

Kaibiotech Co., Ltd., which will become the country's only radiopharmaceutical specialty company, plans to manufacture and sell radiopharmaceuticals, medical devices, and related products based on the proprietary radiopharmaceutical manufacturing technology developed by the research team of the Department of Nuclear Medicine, Graduate School of Medicine at JBNU (led by Professor Jeong Hwan‑jeong).

This technology developed by JBNU researchers is intended to treat tumor cells rather than relying on surgical therapy for intractable diseases such as liver cancer. If commercialized, it is expected to offer a new alternative for cancer treatment by dramatically reducing surgical risks and the financial burden on patients compared with existing cancer therapies.

President Seo Geo‑seok said, 'As the first company in the country jointly established by a university, an industry partner, and a hospital, Kaibiotech is expected to lead the development of treatments for intractable diseases by utilizing JBNU's patented radiopharmaceutical technology. We hope this project will produce favorable results in the near future and generate a win‑win effect for the university, industry partners, the hospital, and local governments.'