Press Release

Institut Pasteur Korea Creates Next-Level Growth in Korea’s Bio Industry with the Success of Qurient

Pangyo, Gyeonggi, 29 Feb, 2016| Qurient Co. Ltd (Qurient, CEO: Dr. Kiyean Nam), a biotech company spin-off from Institut Pasteur Korea (IPK, CEO: Dr. Hakim Djaballah), announced today it is now a public company trading on Korea Securities Dealers Automated Quotation (KOSDAQ).  Qurient is the first biotech company listed on KOSDAQ through the open innovation and project management system.
Launched in 2004, IPK is a research institution focused on uncovering the fundamental principles underlying the mechanisms of infectious disease.  These early discoveries are crucial to future drug development.  IPK was established with financial support from the Ministry of Science, ICT, and Future Planning (MSIP) and the Gyeonggi Provincial Government. 
In 2008, IPK invested in developing Qurient which transitions validated targets to drug candidates.  Since its inception, Qurient has run three preclinical programs and ushered a drug candidate to the global clinical development stage, including drug-resistant tuberculosis candidate Q203 licensed from IPK.
“We see Qurient being listed on KOSDAQ as a victory for the open innovation and project management system and hugely beneficial for the Korean bio industry,” notes Dr. Hakim Djaballah. “This business model fosters a new level of collaboration.  We all benefit from more access to knowledge, innovation and a network of talented individuals while achieving the common goal of new drug development.”
“I believe the only way to return is sustainable growth. We will continuously make an effort for our business,” says Dr. Kiyean Nam.
Spurred on by the success of Qurient, IPK and the Gyeonggi Provincial Government are offering to collaborate with other biotech companies on new research projects focused on discovering first-in-class compounds like Q203.  These new partnerships will have access to IPK’s excellent screening platform and scientific personnel.
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About Institut Pasteur Korea
Institut Pasteur Korea, located in Pangyo, was founded in 2004. It is a private institution devoted to discovery biology for infectious diseases. IPK’s unique translational capabilities and small molecule intervention technology make it possible to rapidly address unmet global health needs through diagnostics for detection and prevention. IPK strives to have fostering collaborations, partnerships, and educational outreach to share its knowledge and research know-how. Institut Pasteur Korea is a member of the Institut Pasteur International Network which brings together 33 institutes located in 29 countries, united by the same mission, culture, and values. Leveraging vast human and scientific community, the Network is involved in international research projects, public health, teaching and training programs. By its diversity and global presence, the Institut Pasteur International Network aims to respond, in an innovative way, to international public health issues and priorities.