NOV Summary

Background

National OncoVenture, a system-integrated oncology drug development group, was established in June 2011. NOV is supported and located at the National Cancer Center of Ilsan. NOV is a national research and development project group of the Ministry of Health and Welfare.
Their purpose is to carry out the development of oncology drug candidates that were discovered by domestic pharmaceutical companies or academic institutes. NOV aims to develop the candidates into oncology drugs for the global market by providing significant drug development expertise.

Business Model

National OncoVenture aspires to break through the bottleneck phenomenon in new drug development. Many academic research institutes and small biotechnology or pharmaceutical companies lack the resources to develop new drugs from the preclinical to clinical stage. We, as the non-originators, lead and support the development with experienced experts through an entire new drug development process.
NOV is the first governmental virtual drug development organization as an independent developer of new oncology drugs in South Korea. We select promising drug candidates from originators and lead joint-development projects of new drug candidates with originators utilized by outside networks. These external networks have the necessary know-how and experiences of new drug developments like CROs, CMOs, and consulting firms.
After completing the non-clinical and early clinical phase development, we license out the candidates or projects to domestic and overseas pharmaceutical companies. The profits are shared with the original candidate providers.
National OncoVenture provides consultations to the originators of drug candidates in need of knowledge, information, and experience for oncology market trends, drug candidates licensing, and various other processes.

  • Vision

    Development of new global oncology drugs to help Korea lead the pharmaceutical and bioscience industries.

  • Mission

    Realization of our nation’s vision to develop new oncology drugs

  • Goal

    Development of oncology drug candidates completed Phase 2 trials, which could be introduced to the global market in five years

Advantages

Professional Project Management : The professional project management of new drug development from pre-clinical to clinical development can be done by drug development experts in NOV.

Total solution for drug development : We provide the total solution for drug development including funding from the government, research & development support, and business development support, such as global partnering and out-licensing, etc.

Consulting Support : Continuous consulting support can be provided by global experts in all functional areas throughout the cancer drug development process from drug discovery to clinical development.

Creative Clinical drug development : Top class medical oncologists can provide creative and competitive clinical drug development such as clinical trial design and clinical study result analysis, etc.