Hwasun County and BACSAL BIO Co., Ltd. Sign Contract for Factory Site Sale in Biopharmaceutical Industrial Complex

[Hwasun=Asia Economy Honam Reporting Headquarters Reporter Kim Ji-woon] Jeollanam-do Hwasun-gun (Governor Gu Chung-gon) announced on the 22nd that it recently signed a contract to sell a factory site of 13,352㎡ in the Hwasun Vaccine Industry Special Zone Biopharmaceutical Industrial Complex with Vaxcell Bio Co., Ltd. (Co-CEOs Lee Jun-haeng and Lee Je-jung).

Prior to this, on the 29th of last month, Hwasun-gun, Jeollanam-do, and Vaxcell Bio signed a memorandum of understanding for an investment worth 30 billion KRW.

Vaxcell Bio plans to build a central research institute equipped with advanced research facilities and smart production facilities for immunotherapeutics in the biopharmaceutical industrial complex by 2023. Construction is expected to begin as early as the second half of this year.

Once the central research institute is completed, it will establish an 'anticancer immunotherapy ecosystem' that can perform everything from basic research to clinical design, clinical trials, mass production of therapeutics, and quality control more quickly and accurately.

Unlike other bio companies that outsource product manufacturing and clinical trials after therapeutic research to external institutions, Vaxcell Bio has built an integrated system from basic research to therapeutic production since its founding in 2012.

It also operates its own GMP (Good Manufacturing Practice) facilities.

With the full operation of the central research institute, Vaxcell Bio is expected to accelerate the development of 'customized cell therapies' that consider the characteristics of individual cancer patients.

Lee Jun-haeng, co-CEO of Vaxcell Bio, said, “By establishing the central research institute, we will grow as a market leader in the global anticancer immunotherapy development competition and transform into a total solution provider company for anticancer treatment covering therapeutic development, clinical trials, and production. We also plan to actively pursue aggressive management such as mergers and acquisitions and strategic investments to secure new technologies early and commercialize them.”