Support of 16.9 Billion KRW in R&D Funding in Collaboration with Pinobio and Others
Kyungbo Pharmaceutical recently announced on the 26th that it has been selected as a project performing institution for the Ministry of Trade, Industry and Energy's support project titled 'Development of Core Materials, Components, and Production Process Technologies for High-Quality Antibody-Drug Conjugate (ADC) Production.'
This support project is part of the Ministry's '2024 Materials and Components Technology Development Project,' aimed at achieving a technological edge in advanced industries and stabilizing supply chains. It was established to reduce dependence on overseas sources through the localization of ADC production and to secure global competitiveness in ADC development.
With this project selection, Kyungbo Pharmaceutical plans to collaborate with Pinobio, Osong Advanced Medical Industry Promotion Foundation, Nexa, and others to receive approximately 16.9 billion KRW in research and development funding over 51 months from the Ministry of Trade, Industry and Energy. The company will focus on developing high-quality drug-linker complex material technology and ADC production process technology.
A Kyungbo Pharmaceutical representative stated, "Kyungbo Pharmaceutical is promoting the ADC CDMO business as a next-generation growth engine, having invested about 85.5 billion KRW last year to establish an ADC GMP production facility." He added, "Based on the Ministry's support, we will develop high-quality complex materials and secure highly efficient ADC production process technology to accelerate our entry into the ADC CDMO market."
ADCs, recognized as next-generation innovative antibody-based drugs, are a field of active research within the domestic pharmaceutical and bio industries due to rapidly increasing global demand. Accordingly, the Ministry of Trade, Industry and Energy is promoting the localization of ADC production, which currently relies 100% on overseas production due to the lack of production technology and mass production facilities, through the ADC production process technology development support project.
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