GC Labcell merged into GC Cell

GC Labcell and GC Cell announced a new start as an integrated corporation GC Cell on Tuesday.

GC Labcell and GC Cell have merged into one company to expand business portfolios and lead the global cell therapy market.

Its stock will be traded under the name of GC Cell from Nov. 17.

The merged company aims to create synergy between the organic combination and utilization of GC Labcell's cell therapy research and process technology and GC Cell's manufacturing capabilities, GC Cell said.

"It is a strategy that makes it possible to secure pipelines across all areas -- T, natural killer (NK), chimeric antigen receptor-T (CAR-T), and chimeric antigen receptor natural killer (CAR-NK)," a company official said. "GC Cell will also expand its business to the fast-growing contract development and manufacturing organization (CDMO) service."

The company expects the convergence process to be smooth as the companies share corporate culture and vision as the affiliates of GC and collaborate on clinical projects, he added.

GC Cell CEO Park Dae-woo also said, "The integrated corporation will expand into the global market through contributing to the healthy life of mankind and the new vision of ‘global cell therapy biotech solution pioneer,’ and aim to become a first-in-class biotech company."

Based on the global standardization of the capabilities of the merged corporation, such as organizational structure, human resources, work methods, and infrastructure, GC Cell will be reborn as a leading global cell therapy company, Park added.