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29 March 2022 – Khon Kaen University entered into a joint venture with Miss Lily to form a holding company under the name KKU Miss Lily Holding Co., Ltd., with the aim of bringing academic research out into the market and catapulting Thai startups to the global stage. Together, they introduced the first hybrid startup, “Lily Pharma,” that will deliver groundbreaking “Andrographolide Nano Emulsion” research and products to the global markets. 
Asst. Prof. Tala Thammaroj. M.D, Vice President for Administration revealed that, “This is the first time that Khon Kaen University has entered into a joint venture with the private sector to set up a holding company, with Miss Lily Co., Ltd. as the joint venture partner in establishing KKU Miss Lily Holding Co., Ltd. The holding company has a registered capital of 40 million Baht. Miss Lily holds 51% of the shares, while the University holds 49%, which is in line with the policies of the Ministry of Higher Education, Science, Research, and Innovation as well as those of Khon Kaen University Council, the latter hoping to encourage more commercial research in collaboration with the private sector. The University has the resources and quality research personnel but faces limitations arising from regulations governing civil servants and the working hours of professors who conduct research and also have teaching duties. As such, products cannot be developed as quickly. In addition, the University’s research focus areas often do not align with the demands of the market and therefore are not applied to create maximum value. However, with the University President’s vision, which led to the establishment of this holding company, the University’s research team now has the opportunity to collaborate with a private sector organization with great potential and a business building perspective like Miss Lily, to form a working group that combines strengths in various aspects, from researchers to knowledge and tools. This combination is brought together to promote the rapid and effective commercial application of research. At the same time, it requires less investment than a research project undertaken by the private or public sector alone. This holding company aims to invest in startups that develop healthcare and other technological innovations that can be brought to the global markets.”
Rawat Chindapol Miss Lily Founder, the pioneer behind Thailand’s first online flower delivery business, stated that, “The company joined hands with the University to build a startup with the idea of bringing academic research out into the market, focusing on products that can disrupt the current market and are able to meet the demands of global markets to create value for individuals, communities, and the country’s overall economy. Therefore, we conducted an analysis, built a business model to create clarity in marketing, and used technology to develop our products for a competitive advantage against existing ones. The company sent in a team of scientists to work in the University’s laboratories since August 2021. Teams from the Medical, Pharmaceutical, and Engineering Departments worked together with the University’s research team, thereby creating a hybrid arrangement that overcame the limitations of the civil service system and leading to significant progress. This progress is demonstrated by the company’s ability to transfer the Andrographolide Nano Emulsion production process from the lab setting to the manufacturing plant within 7 months.”
“Lily Pharma Co., Ltd. applied the research on Andrographolide Nano Emulsion to develop a product in form of a throat spray, registering it with the Food and Drug Administration (FDA) as a cosmetic product, in order to make it available on the market in a timely manner. If it were to be registered as a drug, this process may take 3-5 years, which will not be able to meet the needs of the market immediately. Studies found that Andrographolide Nano Emulsion have particles smaller than 50 nanometers that can be absorbed 8 times more quickly than when consuming pills. Research from many countries confirmed that Andrographolide 1) inhibits virus proliferation, 2) detects abnormal cell division, and 3) has anti-inflammatory properties. These three properties provide Andrographolide with the potential to be further developed into many other products. In the initial phase, Lily Pharma tested the throat spray with different groups of users and collected statistical data, confirming the product’s effectiveness. As a result, we are rapidly manufacturing the products, so that we can launch them in line with the demands of the market, with the decision to register them as a cosmetic product helping to streamline the process. We will begin launching them in pharmacies and hospitals across the country, such as the Welfare store at Srinakarin Hospital , Medical school foundation shop, Khonkhen university. In addition, we are also negotiating with pharmacies that are part of modern trade outlets, for example, Exta Pharmacy in 7-Eleven, Pure Pharmacy in Big C, pharmacies in Lotus, as well as big pharmacy chains, in order to ensure that consumers can easily access the products.”
News: Udomchai Supannawong
Source: https://www.kku.ac.th/12909
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