Pharma Focus Europe

NEC Establishes Subsidiaries in Europe for Strengthening Global AI Drug Development Business

Friday, March 31, 2023

NEC Corporation announced in 2019 that it would expand the application of its cutting-edge AI technologies to drug development, focusing on advanced therapy as part of enhancing its healthcare business. Subsequently, in order to advance AI-powered personalized treatment and beyond, NEC acquired Norway-based NEC OncoImmunity (NOI) that same year.

Today, NEC and NOI announced that NOI will be realigned as a subsidiary of NEC Bio B.V. (NB) in Hilversum, Netherlands, a newly established wholly owned subsidiary of NEC. At the same time, NEC established another new company, NEC Bio Therapeutics (NBT) in Mannheim, Germany, also a subsidiary of NB.

The new structure will enable NEC to drive long-term growth. The main focus of NB will be to streamline all AI, drug research and development activities. While NOI will continue with its research activities, working on the frontiers of the intersection between drug research and AI technology, NBT will lead the clinical development and clinical strategy of the assets in the drug development pipeline.

NEC Bio, along with NOI and NBT, will continue to work with various partners to facilitate pre-clinical and clinical development in the infectious disease and oncology fields.

 

Source: businesswire.com

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