July 13,2020

AVATAMED and CBmed, together with AIMEDBIO and Shimadzu Corporation, are collaborating in a Precision Cancer Project, leveraging on a new technology in cancer research. The Medical Universities of Graz and Vienna and the HEALTH Institute of Joanneum Research GmbH join as scientific partners in this cross-border, public-private consortium.

"Given AVATAMED's extensive research & development efforts under Samsung Institute of Refractory Cancer Research in Seoul over the past 10 years (2011-2019), and a multi-national collaboration project, the PuRPOSE Program, in Singapore over 2 years (2018-2020), we are excited to have the first European collaboration project with CBmed in Graz, Austria under the explosive space of Precision Oncology. Our collaboration outcomes shall provide another milestone accomplishments for both organizations over the next 3 years until 2022", commented Dr Young Yun, Chief Executive Officer at AVATAMED Pte. Ltd.

"Having a consortium comprising of AIMEDBIO based in South Korea, AVATAMED based in Singapore, and the Japanese Shimadzu Corporation, is an achievement and success of our long-term strategic work within the COMET-funded centre. This will leverage our activities to a much higher level", commented Prof. Thomas Pieber, Chief Scientific Officer of CBmed, and Mr. Robert Lobnig, Chief Financial Officer of CBmed, both overseeing the signing of the agreements.

"Our Next-Generation Cancer Drug Screening comprises of metabolomics analysis, in addition to drug screening and genomic data analysis from CBmed. The aim of the research project is to provide an evidence-based, personalised treatment decision for patients not responding to the standard of care", said Prof. Peter Schemmer, Head of Clinical Division of Transplant Surgery at the Medical University of Graz, together with Prof. Do-Hyun Nam, Founder and Chief Executive Officer of AIMEDBIO. "In the near future, we want to provide our patients with the right treatment at the right time with the right dosage".

The new technological infrastructure, together with a new drug-screening Lab in CBmed, will be ready by October 2020. Mr. Robert Lobnig elaborated on the collaboration. "We are currently planning for the transfer of knowledge between our Scientists and their Asian counterparts. Our activities in Asia over the past 4 years across various research projects have prepared us for this milestone." Mr Lobnig added, "In 2021, we will work closely with AVATAMED to advance this joint effort to the rest of Europe, partnering with oncology divisions and pharmaceutical companies."