Aprogen Biologics Expects CDMO Business Results Within the Year... "No Plans for Capital Reduction"

Aprogen Biologics (CEOs Kim Jeong-chul and Lee Seung-ho) announced on the 13th that it will fully launch its CDMO business.

The company owns the world's largest animal cell perfusion continuous culture cGMP plant in Osong, Chungcheongbuk-do. It is currently negotiating CMO or CDMO consignment projects with leading domestic pharmaceutical and bio companies and expects to achieve visible results within the year. Through BioEurope next week and BioUSA in May, it plans to actively promote its CDMO business to global pharmaceutical and bio companies.

The Aprogen Biologics Osong plant is optimized for animal cell perfusion continuous culture but also has no issues producing using the traditional fed-batch culture method. When operating with the perfusion continuous culture method, the Osong plant can produce over 2.8 million liters of culture medium annually, and when operating with the fed-batch culture method, it can produce about 300,000 liters of culture medium annually. The facility is also equipped with world-class finished product manufacturing capabilities, capable of producing 15 million bottles of liquid formulations, 6 million bottles of lyophilized formulations, and 80 million prefilled syringe finished products annually.

Lee Seung-ho, CEO leading Aprogen Biologics' bio business division, said, "One of our goals this year is to enhance shareholder value," adding, "We will leverage one of the few world-class cGMP plants in Asia, including Japan, to increase shareholder value through commercial achievements." He also stated, "There are some concerns about a potential capital reduction at Aprogen Biologics, but we are not considering any capital reductions that could negatively affect shareholder value, nor do we plan to review such measures in the future."