Celltrion Signs Manufacturing Agreement With Bristol-Myers...
22.06.2005 / 08:30 / Rubriek: Informatief / Organisatie: Celltrion
Celltrion Signs Manufacturing Agreement With Bristol-Myers Squibb Company
INCHEON, South Korea, June 21/PRNewswire/ --
- Largest Biologics Manufacturing Contract for an Asian Biopharmaceutical Contract Manufacturer
Celltrion, Inc. announced today that it has entered into an agreement to manufacture biologic products being developed by Bristol-Myers Squibb Company (NYSE: BMY). Celltrion will manufacture products in bulk at its large-scale production facility in Incheon, South Korea. Although commercial terms of the agreement were not disclosed, the agreement is believed to represent the largest biologics manufacturing contract for an Asian biopharmaceutical contract manufacturer.
'This agreement represents a critical milestone for Celltrion,' said Jung-Jin Seo, Celltrion's Co-Chief Executive Officer. 'Having been selected by a world leader in pharmaceuticals to produce their biologic products validates our strategy of competing on a global scale for top-tier biopharmaceutical contract manufacturing.'
The Celltrion facility is capable of producing multiple products, including Bristol-Meyers Squibb's abatacept and belatacept. Technology transfer activities are expected to begin immediately. Production of product, which will be manufactured according to U.S. cGMP standards, is expected to utilize a significant portion of Celltrion's 50,000 liters of bioreactor capacity.
Celltrion is the culmination of both the private and public sectors' efforts to accelerate the development of the Korean life sciences industry. The Korean government has specifically identified the biotech sector as a critical driver for future growth, investing heavily in basic and applied research. Ongoing support from governmental agencies, such as the Metropolitan City of Incheon, will continue to play a critical role in attracting investment capital and talent to the region.
About Celltrion
Established in 2002, Celltrion is one of the largest biopharmaceutical contract manufacturers of therapeutic monoclonal antibodies and recombinant proteins in the world. Celltrion recently completed construction of a 50,000 liter mammalian cell culture facility and initiated an expansion to build an additional 50,000 liters by 2010. Celltrion is headquartered in South Korea in a government-designated Free Economic Zone. This designation has enabled Celltrion to obtain ongoing support from South Korean governmental agencies. The company currently employs 150 people worldwide with a mission to be a leading custom manufacturer of biologics. For more information, please visit Celltrion's website at www.celltrion.com .
For further information please contact:
Celltrion, Inc.
Jae Chung
Senior Director Business Development
Tel +82-19-677-7733 (June 21 to June 24)
Tel +1-415-290-9826 (After June 24)
Fax +650-624-2399
jae.chung@celltrion.com
Web site: www.celltrion.com
Source: Celltrion, Inc.
Jae Chung, +82-19-677-7733, or +1-415-290-9826, or fax, +1-650-624-2399, or jae.chung@celltrion.com