Friday, 19 July 2024

Cell Gene Biobank-based innovation centre to open in South Korea

13 May 2024 | News

To be the world’s largest facility dedicated to cell and gene manufacturing

Image caption- Justin Oh, CEO of CHA Biotech (R), and Tim Rowe, CEO of CIC (Left)

Image caption- Justin Oh, CEO of CHA Biotech (R), and Tim Rowe, CEO of CIC (Left)

South Korea-based CHA Bio Group and CIC, a Cambridge, US-based global leader in building and operating innovation communities, have signed a Memorandum of Understanding (MoU) to establish an open innovation centre focused on research and innovation around the CGB (Cell Gene Biobank).

At the signing ceremony, the two organisations agreed to collaborate on creating a biotech-focused innovation ecosystem by attracting and supporting biotech ventures and related companies to the CGB, which is being built by CHA Bio Group in Pangyo 2nd Techno Valley.

Following the agreement, CHA Bio Group plans to attract high-potential biotech ventures from both domestic and international R&D centres to the CGB, providing an environment conducive to attracting investment.

The combination of biotech ventures’ capabilities and CHA Bio Group’s industry-academia-hospital-research ecosystem will enhance mutual growth through open innovation. CIC will support the investment, attraction, and development of customised programmes for its resident companies, providing top-tier consulting to build and activate the innovation ecosystem.

The CGB, with a total floor area of 66,115 square meters across 10 floors above ground and 4 below, is set to be the world’s largest facility dedicated to cell and gene manufacturing. It is scheduled for completion in December 2025. CGB will house CDMO production facilities, cGMP manufacturing facilities, and a stem cell biobank.

Companies residing in the CGB will have access to all the infrastructure and capabilities of CHA Bio Group, including Matica Biotechnology’s specialised cell and gene therapy CDMO services covering global regions including the USA and Japan, SeoulCRO’s clinical trial services, and CHA Comprehensive Research Institute’s basic research, animal testing, and analytical services. They will also freely use the facilities and network of CIC’s Innovation Campuses in 10 cities worldwide, including locations in the US, Europe, and Japan.


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