San Diego’s HUYA Bioscience International announced Monday a memorandum of understanding with the Korea Drug Development Fund (KDDF) to advance Korean development and commercialization of health care products for the global market, according to a news release.

The Korea Drug Development Fund, established in 2011, operates through drug development projects, linking grant support to research objectives. The fund has a budget of $1 billion.

HUYA has over 100 agreements with universities and research institutes throughout China and has established extensive collaborations with Chinese biopharmaceutical academic and commercial organizations to speed development and value creation in worldwide markets for China-sourced product candidates.

HUYA has offices in the United Kingdom, Japan and eight locations across China, with joint headquarters in San Diego and Shanghai.