Dong-A Socio Holdings’ subsidiary, BTGEN, is set to expand its contract development and manufacturing organization (CDMO) business using funds from the National Growth Fund. Rather than competing with industry giants on production scale, BTGEN aims to carve out its niche through innovative processes and tailored client services.
Speaking at the 2026 BIO International Convention in San Diego on Wednesday, BTGEN CEO Lee Hyun-min revealed that they’re channeling the National Growth Fund support into expanding the primary facility, marking a significant leap in the CDMO operations.
BTGEN has secured a long-term, low-interest loan of 85 billion KRW (about 55 million USD) from the National Growth Fund. The company plans to invest a total of 110 billion KRW (about 71.2 million USD) by adding 25 billion KRW (about 16.2 million USD) from its own coffers.
This expansion will boost BTGEN’s bioreactor capacity from 9,000 to 14,000 liters. Lee elaborated that they’re introducing specialized equipment for mid-tier and high-titer products, with full-scale operations expected to commence by the end of Q1 2028.
He underscored that they’re actively exploring proposals from potential clients to jointly develop unique production processes. The strategy diverges from the economies of scale pursued by established CDMO giants.
Following the completion of its first facility expansion, BTGEN has its sights set on a second factory investment. The company is also weighing the possibility of venturing into next-generation modalities, including antibody-drug conjugates (ADCs) and antibody-oligonucleotide conjugates (AOCs).
Lee stated that post-2028, it’ll prioritize between ADCs and AOCs based on the investment capacity and market dynamics. It continues to receive partnership proposals from biotech startups and platform companies.
The company has no immediate plans for an initial public offering (IPO).
Lee explained that given the government’s stance on subsidiary dual listings and the current funding through the National Growth Fund, an IPO isn’t a pressing need. The focus remains on facility expansion and business growth.
He concluded that instead of going head-to-head with industry behemoths like Samsung Biologics, they’re building a distinctive business model centered on customized production and adaptability to next-generation modalities.
