STgen Bio will invest 110 billion won ($73.8 million) to expand its biopharmaceutical manufacturing facilities in Incheon, the company announced Friday.
With the investment, STgen Bio will establish mid-scale manufacturing lines designed for production of multiple biopharmaceutical products. The investment will be allocated toward expanding drug substance and drug product facilities.
Construction of the new facilities will begin in the first quarter of this year, with goals to complete it in the first quarter of 2028.
STgen Bio’s total annual production capacity will reach 14,000 liters (3,700 gallons) when the new facility is completed. The company also plans to add to new bioreactors and an advanced harvesting system for increased production. A state-of-the-art isolator-based drug product filling line will also be installed, STgen Bio said.
Drug substance capacity is expected to increase by approximately 44 percent, while drug product capacity will increase by 170 percent upon completion of these expansions, the company added.
“Leveraging our global regulatory track record and commercial manufacturing expertise, we continue to strengthen our position in the high-value biologics manufacturing sector,” an STgen Bio source stated. “This expansion will allow us to broaden our global client base and further diversify our customer and revenue portfolio across international markets, reinforcing our position as a global contract development and manufacturing organization.”
Founded in September 2011, STgen Bio, formerly DM Bio, is a biopharmaceutical company under Dong-A Socio Holdings.
BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]
