CrystalGenomics, AstraZeneca to develop new antibiotic

SEOUL, Jan. 12 (Yonhap) -- CrystalGenomics Inc., a South Korean company
specializing in biotechnology services, said Tuesday it has signed a contract
with AstraZeneca Plc to jointly develop a new antibiotic.

Financial terms of the contract were not disclosed. Under the contract,
London-based AstraZeneca will provide funds for CrystalGenomics to develop the
antibiotic over the next two years, the Korean company said in a statement.
In the statement, CrystalGenomics Chief Executive Officer Cho Joong-myung said
the contract attested to the quality of his company's technology for new drugs.
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