CHA Medical & Bio Group has begun construction on its cell gene biobank (CGB), housing a variety of high-tech pharmaceutical treatments, manufacturing, and research facilities at Pangyo in Seongnam, Gyeonggi Province, the firm said.
The construction is part of the firm’s efforts to establish a strategy to build a strong, global contract development and manufacturing organization (CDMO) network, alongside Matica Biotechnology, its U.S. cell and gene therapy affiliate with CDMO expertise.
Over $250 million (302 billion won) will be invested to build a 14-story building by 2024 including facilities for a number of CDMOs, as well as partner firms that will take the lead in the development of current good manufacturing practices (cGMP). The practices are required to conform to related guidelines recommended by pharmaceutical products authorization agencies.
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