Samsung Biologics to provide CDMO support for ‘bio-venture’ firm GI Innovation
The companies last week signed the contract for immune-chemotherapy at the Samsung Biologics headquarters in Seoul, South Korea.
Also headquartered in Seoul, GI Innovation – described as “bio-venture company” – is developing new drugs through the combination of microbiome and protein drugs, according to the company.
This is the second contract GI Innovation has signed with Samsung Biologics since launching their first project with together in June of last year, according to a Samsung Biologics representative.
The agreement is part of a multi-project deal that will see Samsung Biologics provide a range of services including cell line, process, and analytical method development. The company also will manufacture materials for the Phase I clinical trial and will support IND filing support for GI’s drug pipeline.
“Through the partnership, the first among five molecules will initiate development immediately, and overall SBL [Samsung Biologics] will develop two of GI’s projects per year,” the representative explained.
GI Innovation CEO Soo Yeon Nam said in a press release: "Thanks to Samsung BioLogics' CDMO business, we can overcome the problem of producing high-quality clinical test samples, the biggest barrier of bio venture companies.
"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 (BLA) and biotech drug business through Samsung BioLogics' CDMO service,” she added. “Through this collaboration, we wish to demonstrate the win-win model of venture firms and large corporations that the people and the government want."
‘One-stop service’
According to the Samsung Biologics representative, “The number of biotech companies focused on R&D discovery of novel biologics are constantly increasing in the market, and thus the need to outsource development services is growing rapidly.”
The company launched its contract development business in 2018 and has since secured new projects with eight domestic and overseas companies, including GI Innovation, the representative explained, citing its ability to provide “one-stop service” as one of the greatest benefits to working with the company.
“Altogether, our strength is providing integrated biologics development and manufacturing services at one-site, as a true one-stop service provider,” they said.
