Celltrion Launches Bio CDMO Business for the Development of New Drugs
Celltrion (KRX:068270) made an announcement that it will launch Bio CDMO (Contract Development and Manufacturing) business, in a bid to pursue open innovation for development of new drugs, at the 2018 BIO International Convention, the world’s premier life sciences event being held in Boston, June 4-7.
‘Bio CDMO’ refers to i) outsourcing of biologic cell line development and production process, etc., and ii) manufacture outsourcing of non-clinical material, clinical material, and commercialized material.
Unlike regular Bio CDMO businesses, Celltrion’s CDMO business aims to collaborate and partner with research institutes and biotech firms, possessing a new drug candidate molecules, in order to successfully commercialize the aforementioned new drug candidate molecules.
Celltrion plans to support partnered firms by sharing Celltrion’s accumulated biologics development expertise, and may, through consultation and discussion, provide development cost or license in the molecule(s).
Celltrion is initially focusing on specific therapeutic areas which have the greatest synergy with Celltrion’s portfolio - such as autoimmune diseases (rheumatoid arthritis, inflammatory bowel diseases, etc.), breast cancer, lymphoma, and cardiovascular diseases - and is planning to gradually expand its therapeutic areas of interest.
Celltrion spokesperson stated that “At 2018 BIO USA, Celltrion is not only promoting the new CDMO business, but is also meeting with potential partnership candidates. Through various “open innovation strategy”, including this new CDMO business, Celltrion will expand its new drug pipeline portfolio and take a closer step in becoming a global biopharmaceutical corporation.”
About Celltrion, Inc.
Headquartered in Incheon, Korea, Celltrion is a leading biopharmaceutical company, specializing in research, development and manufacture of biosimilar and innovative drugs. Celltrion strives to provide more affordable biosimilar mAbs to patients who previously had limited access to advanced therapeutics. Celltrion received FDA and EC’s approval for INFLECTRA® and Remsima®, respectively, which is the world’s first mAb biosimilar to receive approval from a regulatory agency in a developed country. For more information, visit www.celltrion.com.
About 2018 BIO International Convention
The BIO International Convention is hosted by the Biotechnology Innovation Organization (BIO), which represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO International Convention is in Boston, June 4-7. Attendees can access the global biotech and pharma community via Partnering, attend 500 education sessions and network with 16,000+ attendees from 74 countries according to the BIO. For more information, visit http://convention.bio.org/
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