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Biz News Korea(Eng)

SK pharmteco becomes CBM’s largest shareholder

Collected: 2023.09.21

Distributed: 2023.09.22

Source: Go Direct

CBM in Philadelphia, Pennsylvania. [Courtesy of SK pharmteco]

SK pharmteco, a subsidiary of the SK Group specializing in contract development and manufacturing organizations (CDMOs) for pharmaceuticals, has secured management control of the Center for Breakthrough Medicines (CBM), a U.S. CDMO company specializing in cellular and gene therapy (CGT), according to the company on Wednesday.

SK pharmteco is now CBM’s largest shareholder after exercising its additional investment rights in the U.S. company that it obtained when it made a $350 million investment in CBM in January 2022.

With the acquisition of CBM and French CDMO Yposkesi in 2021, SK pharmteco has secured its synthetic pharmaceuticals and CGT supply chain in both the U.S. and European markets. There are only about five pharmaceutical CDMOs worldwide capable of developing and commercially producing in both the U.S. and European sectors.

CBM is currently constructing a 65,000 square-meter facility, which will become the world’s largest single CGT production facility. Within the site, approximately 28,000 square meters are already in use as good manufacturing practice (GMP) facilities for the excellent production and management of viral vectors, as well as for development and analytical research labs. CBM is also planning to establish GMP production facilities for plasmids, the raw materials used for CGT and SK pharmteco has future plans to integrate and operate both CBM and Yposkesi.

By Kim Jee-hee and Chang Iou-chung

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