From left, Jin-seop Cho, Head of Binex CMO Business Department, Seung-Ho Lim, Vice President of GC Green Cross.
GC Green Cross(414,000 -2.36%)The Binex(29,350 +16.47%)It was announced on the 8th that it had signed an MOU for cooperation with the consignment production (CMO) business. The two companies plan to continue a comprehensive collaboration in the biopharmaceutical CMO business.
It is explained that the two companies have different CMO-related competencies, which can lead to the creation of synergy effects through cooperation. GC Green Cross has strengths in the field of finished pharmaceuticals, such as vials and prefilled syringes (PFS), and Binex is recognized for its biopharmaceutical contract development and production (CDMO) capabilities.
GC Green Cross completed the completion of the integrated completion hall last year, unifying the domestic finished production process that had been dispersed. The facility was designed with the CMO quantity in mind along with its own production items from the planning stage, the company said.
Binex has experience in the development and production of various biopharmaceuticals. It is equipped with a biopharmaceutical production facility (cGMP level) of 12,000L. It is providing overall CDMO services from initial development to clinical drug production and commercial product supply. It is producing a number of biopharmaceutical CDMO contracts including COVID-19 vaccine and antibody treatment.
The agreement is meaningful in that it is a cooperation that can proactively respond to the challenges of biopharmaceutical development, such as securing a production base in a timely manner, and 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, said, “I hope this agreement will become a shared growth model that can utilize the strengths of both companies and complement the infrastructure.”
Reporter Minsoo Han [email protected]
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