GC Cell Acquires US Cell and Gene CDMO Bioscentric

[Asia Economy Reporter Chunhee Lee] GC Cell (GCell) is securing a CMDO base connecting Asia and the United States through the acquisition of a cell and gene therapy (GCT) contract development and manufacturing organization (CDMO) company in the U.S.

On the 19th, GC Cell announced that it will acquire 100% of the shares of the U.S. CGT CDMO company Biosentric together with GC (Green Cross Holdings). This investment was made through a local special purpose company (SPC) named COERA, jointly established with a total investment of $73 million (approximately 90 billion KRW), with GC investing $53 million and GC Cell investing $20 million. The CEO of COERA is Heo Jinseong, head of GC’s Growth Strategy Office and eldest son of Heo Ilseop, chairman of GC Green Cross.

Biosentric is a subsidiary of the New Jersey Innovation Institute (NJII) and is recognized for its specialized capabilities in CGT process development and manufacturing. It operates cGMP production facilities in New Jersey, U.S., and provides contract manufacturing (CMO) services for autologous and allogeneic CGT as well as viral vectors.

According to market research firm Frost & Sullivan, the U.S. CGT CDMO market is experiencing a high annual growth rate of 36.3%. This rapid growth is attributed to the high outsourcing dependency in the CGT field, which requires advanced technological capabilities, and the expectation that demand will continue to be supported as CGT is one of the most actively developed areas among biopharmaceuticals.

Additionally, since Biosentric is located in New Jersey on the U.S. East Coast, it benefits from geographic advantages such as proximity to specialized CGT bio companies, major universities, and hospitals, facilitating customer acquisition and talent recruitment.

Park Daewoo, CEO of GC Cell, stated, “This investment aims to complete the CGT CDMO value chain across key business hubs in Asia and North America while rapidly expanding our scale.” He added, “We are also planning additional facility expansions in North America.”