Genome & Company (CEO Bae Ji-soo and Park Han-soo), a global immunotherapy company specializing in anti-cancer drugs, is entering the CDMO business in earnest, starting with the acquisition of management rights of the U.S. microbiome CDMO List Biological Laboratory (hereinafter List Labs). Genome & Company held an online meeting on the 8th and opened the door to its mid- to long-term vision to become a fully integrated pharmaceutical company (FIPCO) capable of both research and development and production.
After this investment, Genome & Company will be able to maintain the independent operation of List Labs, internalize the production of its own microbiome pipeline, and generate sales through the microbiome CDMO business. At this online meeting, Genome & Company announced its goal to grow into a global microbiome CDMO, starting with consignment production of drugs for early clinical trials through List Labs and expanding to late-stage clinical and commercial consignment production.
List Labs, located in San Jose, USA, is a microbiome CDMO company with 43 years of history and produces microbiome and biotoxins on consignment. List Labs is highly regarded in the industry for its quality control capabilities that meet cGMP certification standards and its rich strain experience capable of producing aerobic and anaerobic microbiome medicines. Based on this, it is growing steadily by consignment production of clinical trial drugs for many microbiome developers at home and abroad.
At an online meeting, Genome & Company announced its strategic ambition to internalize the production of its microbiome pipeline and achieve stable clinical operations through the acquisition of List Labs. List Labs expects to expand production capacity (Capa) by utilizing Genome & Company’s capital and global network, receive additional consignment production orders from global microbiome developers, and improve sales capabilities.
Bae Ji-soo, CEO of Genome & Company, said at the meeting that day, “The success of microbiome new drug development will be based on quick market launch and preemption, and securing a CDMO will be important as an important factor in determining this.” He added, “In the future, Microbiome “We will accelerate the development of our pipeline by generating additional sales related to the Ohm CDMO business, while creating a new profit model differentiated from existing biotech companies and becoming a ‘first mover’ in the global microbiome industry.” .
Stacy Burns-Guydish, CEO of List Labs, said, “We expect that List Labs will be able to further strengthen its capabilities as a customer-centered microbiome CDMO through positive synergy with Genome & Company, a global microbiome specialist.” By combining our capabilities, we will leap forward to become a leading global microbiome CDMO company.”
Meanwhile, as the global microbiome treatment market continues to grow, demand for production capacity is expected to continue. According to the Ministry of Food and Drug Safety in 2021, there are currently 204 microbiome treatments under development worldwide. The market size is expected to increase approximately 167 times from $56.3 million (approximately KRW 62.4 billion) in 2018 to $9.3875 billion (approximately KRW 10.866 trillion) in 2024.
Source: Pangyo Techno Valley Official Newsroom
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