PanGen Biotech, a contract development and manufacturing organization (CDMO) under Huons Group, announced on the 2nd that it has signed a contract manufacturing organization (CMO) agreement with CHA Vaccine, a subsidiary of CHA Biotech.
The agreement involves CHA Vaccine entrusting the contract manufacturing of its self-developed project treatment to PanGen Biotech, with the contract value being approximately 1.9 billion won. Major contract details were not disclosed in accordance with a confidentiality agreement between both parties.
PanGen Biotech is engaged in the CDMO business and the manufacturing and sales of biosimilar products based on its core technologies for cell line development and production process know-how. CHA Vaccine is developing next-generation vaccines and immune therapies utilizing an independently developed immune enhancement platform technology.
Yoon Jae-seung, CEO of PanGen Biotech, noted, "CHA Vaccine and PanGen have collaborated on numerous projects since the early days of their establishment, including joint development and CDMO contracts for biopharmaceuticals," and added, "We will continue to closely collaborate with CHA Vaccine to promote mutual growth in the future." Meanwhile, PanGen Biotech joined the Huons Group in December of last year, achieving profitability last year.