CG MedTech, a leading firm specializing in orthopedic and dental implant research and manufacturing, announced on Friday that it has acquired the human tissue processing bank in Seongnam, previously owned by CG Bio. This move signals a significant expansion into the human tissue-based bio business.
The acquisition provides CG MedTech with an Association for Advancing Tissue and Biologics (AATB)-certified human tissue processing facility that adheres to the U.S. Food and Drug Administration (FDA) regulations, along with all essential equipment. By integrating the cell processing facility, the company has established a production infrastructure that meets global standards.
With this strategic move, CG MedTech plans to aggressively pursue projects centered on extracellular matrix (ECM)-based therapeutics and regenerative skin boosters. ECM, a biomaterial that promotes tissue regeneration, is considered a cutting-edge bio material with vast potential in various medical fields, including skin, soft tissue, and bone tissue regeneration.
The company will also bolster its existing dental business. As part of its dental portfolio expansion, CG MedTech aims to produce bone graft materials for alveolar bone. The firm plans to leverage synergies between its established implant business and the new biomaterials division.
This acquisition marks a pivotal moment for CG MedTech, as it broadens its focus from primarily spinal and orthopedic operations to a more diverse bio portfolio that encompasses dentistry. By directly controlling the production infrastructure, the company anticipates a more streamlined approach to developing, producing, and commercializing related products.
Chief Executive Officer (CEO) Yoo Hyun-seung stated that this acquisition is a game-changer for CG MedTech. It allows them to secure a foothold in human tissue processing and expand into the bio sector. It’s committed to diversifying the portfolio with ECM-based therapeutics, regenerative skin boosters, and bone graft materials for alveolar bone. Simultaneously, it’ll continue to strengthen the contract Development and manufacturing organization (CDMO) capabilities, leveraging synergies with the spinal, orthopedic, and dental operations.