MegaZone Cloud (CEO Dong-Hoon Yeom) , a leading AI and cloud company, has signed a business agreement (MOU) with PharmCADD, an artificial intelligence (AI)-based new drug development platform company, to innovate the new drug development process using quantum AI technology.
Under this agreement, PharmCAD will develop quantum computing algorithms and applications for new drug development, and MegaZone Cloud will build a quantum and high-performance computing (HPC) environment through Amazon Braket, an Amazon Web Services (AWS) cloud-based quantum computing service, to support PharmCAD’s algorithms and applications to operate optimally in a cloud environment.
PalmCAD will have access to a variety of quantum computing hardware and emulators via Amazon Brackets, including IonQ, IQM, and Rigetti.
In addition, MegaZone Cloud will support distribution and business expansion strategies so that pharmaceutical and bio companies around the world can utilize the developed application. By utilizing this application, pharmaceutical and bio companies are expected to optimize the new drug development process and increase research efficiency without having to build a separate quantum computing infrastructure.
“Quantum computing will be an innovative tool that can overcome problems that are difficult to solve with existing technologies in the process of analyzing and selecting new drug candidates,” said Vice President Dong-ho Kim, Chief Quantum Officer of MegaZone Cloud. “Through this collaboration, MegaZone Cloud will support the production of tangible results in the field of new drug development.”
Pharmcad CEO Woo Sang-wook said, “Through our collaboration with MegaZone Cloud, we expect to be able to design more precise and efficient drugs by incorporating quantum computing-based AI technology into the new drug development process,” adding, “Through this collaboration, we will produce new research results and strengthen our competitiveness in the global pharmaceutical and biotech markets.”
MegaZone Cloud and MegaZone affiliates have become the first unicorn companies in the domestic cloud MSP industry based on approximately 2,800 cloud experts, and achieved sales of KRW 1.5106 trillion in 2023. In addition to Korea, they also operate local corporations in eight countries overseas, including the US, Japan, Canada, Australia, Shanghai/Beijing, China, Vietnam, Hong Kong, and Singapore.
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