CHA Bio Group is set to forge an innovative bio-ecosystem in collaboration with the Cambridge Innovation Center (CIC). The Cell Gene Biobank (CGB), currently under construction in Pangyo’s Second Techno Valley, is poised to evolve into a global hub for bio open innovation.
On Wednesday, Yang Eun-young, Vice President of Global Business Development at CHA Bio Group, shared insights with News1 during the JP Morgan (JPM) Healthcare Conference in San Francisco. She highlighted their focus on the CGB-CIC Open Innovation Center, a joint venture with CIC slated to open as early as the first half of this year.
Yang emphasized that at this year’s JPM event, it spotlighted the CGB-CIC Open Innovation Center to global investors and pharmaceutical companies. It believes CGB-CIC will be instrumental in propelling promising biotech firms onto the global stage.
CGB, CHA Bio Group’s ambitious project for cell and gene therapy, broke ground in March 2022. This colossal facility spans ten stories above ground and four below, covering a total area of 66,115 square meters (about 711,655 square feet). It stands as the world’s largest single facility dedicated to cell and gene therapy.
The complex will house a state-of-the-art contract development and manufacturing organization (CDMO) facility, a current good manufacturing practice (cGMP) manufacturing facility, and a cutting-edge stem cell biobank, among other facilities. CHA Bio Group has invested 300 billion KRW (approximately 204 million USD) in this venture.
The company envisions CGB as the epicenter for future growth, focusing on cell and gene therapy CDMO operations. A significant portion of the facility – 10,000 square meters (about 107,639 square feet) – will be dedicated to the CGB-CIC initiative.
By implementing CIC’s proven model for fostering global innovation, CHA Bio Group aims to support bio ventures from their inception through to their global market debut.
Yang explained that the goal is to provide tailored spaces and services that meet the unique needs of resident companies. This approach will significantly reduce their infrastructure investment costs. Moreover, they’re establishing ongoing collaboration systems with investors, creating a fertile ground for organic partnerships.
CHA Bio Group is preparing differentiated support to expand global networks and attract investments.
The CGB-CIC has ambitious plans to boost opportunities for international expansion and investment. These include strategic collaboration programs with global pharmaceutical giants and investors, a weekly Venture Cafe, and an annual global CGTI Forum.
A standout feature is that resident companies can access CIC’s global campuses across ten cities worldwide at no extra cost, providing them with a launchpad for global expansion.
CHA Bio Group will leverage its global CDMO and clinical trial facilities to support resident companies in drug development and commercialization.
The group will share its extensive infrastructure and expertise, including six global cell and gene therapy (CGT) CDMO sites, the CHA Animal Research Center, and the CHA Global Clinical Trial Center.
Yang concluded that its resident companies will have access to a vast ecosystem comprising global pharmaceutical and biotech firms, investors, our partner universities and research institutes, and CHA’s network of 96 hospitals worldwide. They’re creating a premium innovation platform that offers unparalleled support across all areas – from technology development and investment attraction to global market entry.
