Amicogen, a specialized company in bio materials, pharmaceuticals, and healthcare, announced on the 18th that it has secured 100% ownership of its subsidiary, Beyondcell. Beyondcell was established as a joint venture with Artiabio, Inc. to introduce cell line development and customized media technology.
Artiabio is a company with strengths in high-efficiency biopharmaceutical manufacturing processes based on cell line development and media technology. In September 2020, Amicogen established the joint venture Beyondcell to acquire Artiabio’s core technologies and has completed the transfer of Artiabio’s key cell line development and media technologies.
Park Cheol, CEO of Amicogen, stated, “The acquisition of Beyondcell’s shares was carried out for the purpose of a merger,” adding, “Since the technology transfer from Artiabio has been completed, we plan to proceed with the merger process in earnest starting in October and aim to complete the merger within this year.”
He continued, “Through the merger, we expect to create strong integrated synergies in sales, technology development, and production, focusing on new business expansion and enhancing corporate value. We plan to continuously cooperate with Artiabio in securing overseas clients, sales, and marketing to enter the global market. We will establish various strategies not only for localization but also for overseas market entry and do our best to ensure the successful establishment of the media business.”
Amicogen has been preparing for the localization of media in line with the full-scale growth of the biosimilar market. It has secured global-level quality and completed large-scale production facilities with the completion of the Songdo plant. This year, it plans to finish production preparations and take the lead in media localization.
Additionally, Amicogen is actively pursuing global market entry by participating in events such as the ‘2024 CPHI Worldwide’ held in Milan, Italy. Global biopharmaceutical development and CDMO companies from the US, Europe, as well as India and China, have shown significant interest.
In particular, there was great interest in its capabilities in cell line development, cultivation, and purification processes, and discussions on cooperation plans were reportedly held. Amicogen plans to continue creating new growth engines within the global bio industry through technology development and strengthening production capabilities.
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