GC to cooperate in CMO biz with Binex

GC Pharmaceutical said Friday that it has signed a memorandum of understanding with Binex to cooperate on contract manufacturing organization (CMO) business.

GC Pharm Vice President Im Seung-ho (right) and Jo Jin-seop, director of Binex’s CMO business division, hold up their MOU at GC’s plant in Ochang, North Chungcheong Province on Friday. (GC)

“The two companies can create synergic effects from this agreement as they have different CMO capabilities,” GC said in a news release. “GC specializes in finished products such as vial flu vaccines and pre-filled syringe injections, while Binex has won recognition for contract development and manufacturing organization (CDMO) capacity.”

GC completed an integrated center for manufacturing finished goods last year, unifying its production facilities dispersed in the country. The company said it would design vaccines and treatments from their planning stage by deciding its production and those for CMO production.

Binex has a manufacturing facility to produce 12,000 liters of cGMP-level biomedicine and has diverse experiences developing and manufacturing the products. It provides the overall CDMO service, ranging from early development to supplying clinical pipelines and commercializing various pharmaceuticals products, including Covid-19 vaccines and immunotherapies, according to the news release.

The MOU is significant because it can help secure the right production site at the right time, GC said, adding that the two companies also target to collaborate on developing and launching drugs efficiently.

“The two companies will establish a flexible and systematic partnership,” GC Pharma Vice President Im Seung-ho said.

Binex CEO Lee Hyuk-jong also said, “We expect the agreement would benefit the two companies as a shared growth model, maximizing the strengths and supplementing infrastructure of the two.”