Introducing a New Corporate Validator, Daewoong Pharm

Greetings from the MediBloc team!

It is our great honor to announce that Daewoong Pharmaceutical has newly joined as a corporate validator of Panacea.

What is a Corporate Validator?

Panacea is a blockchain platform optimized for health data and developed by MediBloc Limited to create a safe and sustainable ecosystem for patients to regain sovereignty over their health data. Panacea’s corporate validators are responsible for major decision-making and the consensus node operations of Panacea’s technology and business based on blockchain governance.

Introducing Daewoong Pharmaceutical

Daewoong Pharmaceutical, a leading Pharmaceutical company with more than 70 years of history, has established itself as Korea’s leading pharmaceutical company that researches, develops, and produces globally competitive drugs by establishing the most local infrastructure among Korean pharmaceutical companies. Daewoong Pharmaceutical, famous for its flagship product Urusa, developed its 34th domestic new drug “FexuClue” in July this year and also developed new diabetes drug “Enavogliflozin” based on its global network and R&D capabilities. Daewoong Pharmaceutical is a global healthcare company that improves the quality of life and leads the domestic pharmaceutical market.

Expected Benefits

With the joining of Daewoong Pharmaceutical, we expect to start discussions such as securing clinical research data based on Panacea ecosystem’s blockchain technology and establishing a pharmaceutical logistics system. In addition, as Daewoong Pharmaceutical is a company dedicated to developing various new drug pipelines and data platform technologies, it will also help operate and expand a healthy healthcare ecosystem with MediBloc Limited.

Panacea will operate transparently and healthily through the activation of the corporate validator. Following the Mainnet upgrade, which activated validator participation, several leading companies representing the healthcare and IT industries have expressed their intention to participate in this venture. MediBloc Limited is also accelerating the composition and expansion of the ecosystem via internal procedures. In this way, MediBloc Limited will continue to make efforts to secure the high scalability of the Panacea ecosystem through various collaborations.

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