- Entering U.S. CGT market nine months after acquiring Yposkesi in France, SK pharmteco secured biologics CDMO capability in both Europe and the U.S.
- CBM has assembled top CGT industry experts and possesses extensive CGT drug manufacturing capabilities, and will construct world’s largest CGT manufacturing facility by 2025
- SK Inc. will accelerate its growth into a global top 5 CDMO for chemical-biologic drugs, and will supply chemical-biologic new drugs around the world
SK Inc., the strategic investment holding company of SK Group, has accelerated its jump to become a leading cell and gene therapy (CGT) contract development and manufacturing organization (CDMO) for the pharmaceutical industry.
SK Inc. announced on January 9th
that it has invested $350 million in the Center for Breakthrough Medicines (CBM), a Pennsylvania-based CGT CDMO, to become the second-largest shareholder.
The investment came nine months after its acquisition of Yposkesi, a
French CGT CDMO, in March 2021. With this investment, SK Inc. not only
has secured a strong foothold in the U.S. but has gotten closer to its
goal to become a leading CDMO that produces both chemical APIs and
CGT includes revolutionary, personalized treatments for cancer and
genetic diseases. CGTs are expected to show high-growth rates due to
what some experts believe are superior curative effects.
CBM is the largest and most comprehensive single site cell and gene
therapy CDMO servicing pre-clinical to commercial phase therapies,
following a molecule from idea to launch and providing a full spectrum
of services all in one location. CBM provides pre-clinical development
through commercial manufacturing services, including process
development, the design and manufacture of plasmid DNA, viral vector
manufacturing, cell banking, cell processing, testing and analytics, and
CBM’s competitive strength lies in its unparalleled CGT technology,
highly skilled management and R&D staff, plans for the world’s
largest manufacturing capability and its location, which is optimal to
pursue the CGT business.
CBM is located in the Greater Philadelphia region, the core of the
“Cellicon Valley,” which is the only biopharma cluster in the U.S.
specializing in CGT. With over 100 universities and hospitals, 1,700
pharma companies and 70,000 experts, the “Cellicon Valley” is the most
optimal location to pursue the CGT business in terms of sourcing
CDMO-related technology, clients and talents.
CBM has an ambitious plan to construct a 700,000 square feet
GMP-grade CGT facility by 2025, which will be the world’s largest of its
kind. It also has plans to hire over 2,000 new employees relating to
the facility during the next four years.
Regarding its chemical APIs CDMO business, SK Inc. has already
established a manufacturing platform across the U.S., Europe and Korea
in 2018, and based on revenue size, it is already regarded as one of the
world’s top 5 chemical API CDMOs. With its investment in CBM, it is one
step closer to becoming a world-leading CDMO that can manufacture both
chemical and biologics new drugs in the major pharmaceutical markets of
the U.S., Europe and Asia.
“The partnership with SK will allow us to manufacture groundbreaking
advanced therapies which prolong healthy living and eradicate life
threatening diseases like cancer and heart disease. The SK CBM
partnership will enable extraordinary and brilliant doctors and
scientists, biotechnology and pharmaceutical companies to obtain
approval and commercialize thousands of pending new therapies. We
believe our partnership with SK will contribute to one of the most
significant positive impacts on mankind in our lifetimes by bringing the
cost of these extraordinary therapies down to a level that is
affordable to everyone,” said Brian O’Neill, the founder and chairman of
the Board of CBM.
Dong-hoon Lee, executive vice president of Bio Investment Center at
SK Inc. commented, “With the successful investment in CBM, we have
secured a crucial foundation for realizing the ‘CMO Financial Story’
which envisions completing the chemical-biologic drug value chain across
the U.S., Europe and Asia by 2025. I am certain that we will rise to
become one of the world’s top CGT CDMO by focusing our energy on growing
our biologics CDMO business”.