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Friday, 31 March 2023, 10:14 JST
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Source: NEC Corporation
NEC Establishes Subsidiaries in Europe for Strengthening Global AI Drug Development Business

Tokyo (Japan), Hilversum (Netherlands), Oslo (Norway), Mannheim (Germany), Mar 31, 2023 - (JCN Newswire) - NEC Corporation (NEC) 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.

Commenting on the announcement, Mr. Takayuki Morita, CEO of NEC, said: "We believe this is a key strategic step for NEC to continue its growth in the biopharma space. Establishment of this organizational structure will allow us to concentrate on the execution of strategies for growth in the drug development business, and reinforces NEC's commitment to Healthcare and Life Science, which is positioned to become one of the next pillars of growth for NEC."

Mr. Akira Kitamura, CEO, NEC Bio B.V., said: "NEC Bio's mission is to bring novel therapies to patients across the globe, to improve their quality of life and health outcomes. I am confident that with NO''s pioneering research, along with the strong clinical expertise of NBT, we can deliver on that mission. NEC Bio's success will be a strong growth driver for NEC's Healthcare and Life Science business."

Dr. Richard Stratford, CEO of NEC OncoImmunity, said: "This new organization is vital for further growth in the drug development space. NEC OncoImmunity will continue its cutting-edge research and development activities for world class AI technology to bring novel treatments to patients across the globe in the fields of oncology and infectious disease."

Dr. Heinz Lubenau, CEO of NEC Bio Therapeutics, said: "It has been very exciting to be part of the NEC Group team. As a next step, I am looking forward to focusing on clinical strategy and development, as well as the planning and execution of clinical trials in oncology."

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.

About NEC OncoImmunity AS

NEC OncoImmunity AS is an AI driven biotechnology company that has developed proprietary machine learning-based software which addresses the key knowledge gaps in the prediction of bona fide immunogenic neoantigens for personalized cancer immunotherapy. The AI technology can be used to identify optimal neoantigen targets for truly personalized cancer vaccines & cell therapies in a clinically actionable timeframe, and also facilitate effective patient selection for cancer immunotherapy. The AI technology has also been repurposed to identify optimal antigens from pathogens for the purpose of designing broadly protective vaccines against highly diverse viral species and viral genera, that are effective in the global population. For more information, visit NEC OncoImmunity AS at www.oncoimmunity.com/

About NEC's AI Drug Development Business

For more information, please visit www.nec.com/en/global/solutions/ai-drug/.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at www.nec.com.

Topic: Press release summary
Source: NEC Corporation

Sectors: Artificial Intel [AI], MedTech
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