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Home > Biz&Company

Korea’s Celltrion turns to development service

2018.06.05 14:06:44 | 2018.06.05 15:43:04
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South Korea’s leading biosimilar company Celltrion Inc. said on Tuesday it will join the contract development and manufacturing organization (CDMO) industry to strengthen its position in drug development as demand grows for biopharmaceutical treatment.

CDMO business covers contract development of a cell line and a production process for customers and contract production of therapeutic molecules and commercialized biologics.

Celltrion shares closed Tuesday up 0.19 percent at 267,000 won ($249.37) in Seoul.

Celltrion will build a partnership with research institutes and biotech start-ups that own promising candidate drugs to commercialize novel drugs under the CDMO model. Partners will be entitled to access Celltrion’s biopharmaceutical development technology in the entire course of drug development, to share development costs and licensing out to Celltrion.

Celltrion decided to give priority to rheumatoid arthritis, inflammatory bowel disease and breast cancer in its commercial development.

“Celltrion is promoting its CDMO services and is in talks with potential partners at the 2018 BIO International Convention in Boston,” said a company spokesman, adding “Celltrion will expand a pipeline of novel drugs through CDMO business.”

Switzerland-based Lonza Group is a leader in the global CDMO market. In Korea, Samsung BioLogics is on track to add contract development services to its CMO business model.

By Shin Chan-ok and Minu Kim

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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