[Edaily Reporter KIM SAE-MI ] CHONGKUNDANG(185750)has established “Nurateon (NURATEON),” a subsidiary specializing in research and development (R&D), and is launching an R&D service business targeting pharmaceutical and biotech companies.

CHONGKUNDANG announced on the 9th that it held the NUON founding ceremony on the 8th at the Hyojong Research Institute in the Dongbaek District of Yongin, Gyeonggi Province.

The event was attended by approximately 100 executives and employees, including Choi Hee-nam, CEO of CHONGKUNDANG HOLDINGS CORP., and Won Dong-han, CEO of NUON.

Building on the R&D capabilities accumulated by CHONGKUNDANG’s Hyojong Research Institute, NURATEON will provide development services for new drug formulations, improved new drugs, generics, and over-the-counter (OTC) medications. It also plans to conduct comprehensive pharmaceutical R&D, including analytical and formulation research as well as drug delivery system (DDS) research.

Going forward, the company plans to pursue its own new product development and technology transfer initiatives while expanding its customized R&D services to broaden its customer base among domestic and international pharmaceutical and biotech companies.

The company name, Neurateon, combines “New Era,” signifying a new era, with “Teon,” derived from “Technology Innovation.”

Neurateon has presented its vision as “an R&D platform company that ushers in a new era through technological innovation.” With Technology, Collaboration, and Innovation as its core values, the company intends to strengthen its technological competitiveness and external partnerships.

Won Dong-han, a former executive at CHONGKUNDANG Research Institute, was appointed as the first CEO. CEO Won earned a Ph.D. in Pharmacy from Pusan National University and has 23 years of experience in formulation and technology research in the pharmaceutical industry.

CEO Won stated, “Based on our outstanding research personnel and expertise, we will provide the best R&D services to our customers and partners,” adding, “We will usher in a new era for the pharmaceutical industry based on technological competitiveness and collaboration.”