Korea's Dongsung Pharmaceuticals opens a new cancer research center in Seoul

In a bid to further strengthen its pipeline of cancer treatments, Korea’s Dongsung Pharmaceuticals has recently opened a new cancer research and development center in Daegu, southeast of capital city Seoul.

The new cancer R&D center is established in a state-designed Daegu medical complex where 15 public institutions and 120 other private medical firms are settled. 

Dongsung said in a statement that that the new cancer center can help it move a step forward to advancing its cancer treatment development. The pharmaceutical firm that is currently in partnership with local drug research and development support centers has been developing new anti-cancer agents and studying photodynamic therapy for cancer treatment since June last year. 

Lee Yang-gu, chief executive officer of Dongsung Pharmaceutical, said, "The company aims to complete the development of a new photosensitizing agent, a drug used in photodynamic therapy for cancer treatment, at the Daegu cancer center by the end of this year."

Korea based Dongsung Pharmaceutical, mainly produces over-the-counter drugs and quasi-drugs, and has been seeking to expand its reach out to the global medical market through cancer treatment drugs.