OR WAIT null SECS
Samsung BioLogics will provide contract development organization services to drug developer GI Innovation.
On May 3, 2019, Samsung BioLogics and GI Innovation, a company focused on drug development through the combination of the human microbiome and protein drugs, announced that they have signed a contract development organization (CDO) contract for immunochemotherapy at Samsung BioLogics’ headquarters in Incheon, South Korea, on May 2, 2019.
The agreement is the first among a five, multi-project deal in which Samsung BioLogics will provide CDO services to Seoul, South Korea-based GI Innovation, including cell-line development and the production of Phase I drug substances. The deal is expected to further leverage Samsung BioLogics’ CDO technology and capacity with GI Innovation’s candidates to accelerate new drug development.This is the second collaborative project between the two companies, with the first contract signed in June 2018. Samsung BioLogics reports that it launched its CDO business in 2018 and within a year secured new drug development projects with eight domestic and overseas companies, including GI Innovation.
"As Samsung BioLogics provides consistent services for contract research, CDO, and contract manufacturing, biopharmaceutical companies will dramatically reduce costs and time,” said Dr. Tae Han Kim, CEO at Samsung BioLogics, in a company press release. “We will do our best to help domestic bio-venture companies, including GI Innovation, advance into the global market and commercialize their products through our CDO technology."
"Thanks to Samsung BioLogics’ CDMO [contract development and manufacturing] business, we can overcome the problem of producing high quality clinical test samples, the biggest barrier of bio venture companies,” said Dr. Nam, “We are very positive that global pharmaceutical companies interested in the R&D pipeline of GI Innovation will be able to access global new drug licensing and biotech drug business through Samsung BioLogics' CDMO service. Through this collaboration, we wish to demonstrate the win-win model of venture firms and large corporations that the people and the government want.”