Megazone Cloud announced on the 8th that it has signed a memorandum of understanding (MOU) with the artificial intelligence (AI)-based new drug development platform corporations PharmCADD to innovate the new drug development process using quantum AI technology.
Under this agreement, PharmCADD will develop quantum computing algorithms and applications for new drug development. Megazone Cloud will establish a quantum and high-performance computing (HPC) environment through the Amazon Braket quantum computing service based on Amazon Web Services (AWS) cloud.
Megazone Cloud is expected to support PharmCADD’s algorithms and applications to operate in an optimized state within the cloud environment.
Additionally, Megazone Cloud will also support distribution and business expansion strategies so that the developed applications can be utilized by pharmaceutical and biotechnology companies around the world.
Kim Dong-ho, the vice president in charge of quantum computing business at Megazone Cloud, noted, “Quantum computing will be an innovative tool that can overcome challenges that cannot be solved by existing technologies in the analysis and selection process of new drug candidates.” He added, “Through this collaboration, Megazone Cloud will support the achievement of tangible results in the field of new drug development.”
Woo Sang-wook, the CEO of PharmCADD, said, “By integrating quantum computing-based AI technology into the new drug development process through collaboration with Megazone Cloud, we expect to enable more precise and efficient drug design.” He continued, “We will use this collaboration as an opportunity to derive new research achievements and strengthen competitiveness in the global pharmaceutical and biotechnology markets.”