Consigned production business agreement with Binex… Expecting strategic cooperation synergy
Preemptive response to’securing timely production bases’… Search for drug development and commercialization
GC Green Cross is expanding its consignment production (CMO) business.
On the 8th, GC Green Cross and Binex plan to sign a business agreement for cooperation in consignment production (CMO) business at the Ochang factory in Cheongju, Chungcheongbuk-do, and continue comprehensive collaboration in the biopharmaceutical CMO business.
Under this agreement, it is expected that two companies with different CMO capabilities will be able to create synergy through cooperation.
GC Green Cross has strengths in the field of finished pharmaceuticals such as Vial and Prefilled Syringe (PFS), and Binex is recognized for its biopharmaceutical CDMO capabilities.
GC Green Cross completed the completion of the integrated building last year and unified the process of completing the distributed domestic production facilities. This facility is designed with the CMO quantity in mind along with its own production items from the planning stage, so it can increase the production efficiency of various treatments and vaccines.
Binex is a CDMO company with experience in the development and production of various biopharmaceuticals, and has a cGMP-class biopharmaceutical production facility with a total capacity of 12,000 liters.
It provides overall CDMO services from initial development to clinical drug production and commercial product supply, and is producing contracts for consignment development and production of a number of biopharmaceuticals including Corona 19 vaccine and antibody treatment.
Through this agreement, the two companies will preemptively respond to’acquisition of timely production bases’ and seek rapid cooperation that can contribute to efficient drug development and commercialization.
Seung-ho Lim, vice president of GC Green Cross, said, “The two companies will build a flexible and efficient collaboration system.”
Lee Hyuk-jong, CEO of Binex, added, “We hope that this agreement will become a shared growth model that can utilize the strengths of the two companies and complement the infrastructure, and furthermore, it will be a great help in expanding the CMO business.”
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