[Asia Economy Reporter Kim Young-won] Aprogen affiliate Aprogen Pharm announced on the 15th that the absorption merger of Aprogen Biologics was finally approved at the extraordinary general meeting of shareholders. Once the merger is completed, Aprogen Pharm's company name is expected to be changed to Aprogen Biologics.
Aprogen Pharm stated that it plans to actively expand its business, including contract manufacturing (CMO) and contract development and manufacturing (CDMO), targeting not only Aprogen but also domestic and international biopharmaceutical companies by utilizing the Osong plant, the world's largest perfusion continuous culture factory.
Aprogen Biologics is a company that owns a GMP plant ranked 5th globally, located in Osong, Chungbuk, capable of producing more than 3,000 kg of antibody drugs annually. The Aprogen Group has invested over 600 billion KRW in the construction of the Osong plant and the establishment of a cGMP-level quality system. Additionally, in the past three years, the partner company Nichi-Iko Pharmaceutical has paid approximately 50 billion KRW in consulting fees to U.S. experts separately to prepare for the U.S. Food and Drug Administration (FDA) inspection of the Osong plant.
Recently, the Osong plant passed the European Medicines Agency (EMA) inspection flawlessly, which assesses compliance with EU GMP standards as a manufacturing facility for clinical trial drugs in Europe.
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