[THE INVESTOR] LG Chem said on Jan. 11 that it will concentrate its research on developing new drugs for metabolic diseases and immuno-oncology treatment.

The firm also said it will speed up the development process for new drugs through its open innovation program, which is designed to team up with other pharmaceutical firms and researchers in developing new drugs.

“We will make our utmost effort to secure a global network for the foundation of future businesses,” Son Jee-woong, head of LG Chem’s Life Sciences Business Division, said in a speech at the J.P. Morgan Healthcare Conference in San Francisco.

A LG Chem official in Seoul said that LG Chem is pushing to find partners for development of new drugs for metabolic disorders and immuno-oncology treatment.

Metabolic diseases -- which disrupt the functioning of metabolism -- include diabetes and obesity. Immuno-oncology treatment is meant to use the body’s immune system to help combat cancer.

By Alex Lee and newswires (alexlee@heraldcorp.com)