GC Green Cross Lab Cell, a bio company with NK cell therapy technology, and GC Green Cross Cell, which possesses the No.
GC Green Cross Lab Cell and GC Green Cross Cell announced on the 16th that they each held a board of directors meeting and decided to merge. The two companies plan to complete the merger by November of this year after undergoing a corporate merger review by the authorities and a general meeting of shareholders. The merger ratio is 1:0.4, and 0.4 new shares of GC Green Cross Lab Cell are allocated for each share of GC Cell. After the merger, the surviving corporation will be GC Green Cross Lab Cell, and the name will be changed to GC Cell after the merger.
The decision to merge is a measure to significantly enhance global competitiveness by combining two companies with different specialized capabilities while sharing the common denominator of cell therapy. GC Green Cross Lab Cell is a global top-tier company in the field of NK cell therapy, which is valued at trillions of won for global pharmaceutical companies to use some of the platform technology. GC Cell is also meaningful in that it is a combination of leading companies in that it has the world’s largest number of cell therapy production titles through ‘Immune Cell LC’, a domestic anticancer drug with the highest sales.
The cell therapy field, the mainstay of the two companies, is growing by more than 40% every year, emerging as a ‘blue chip’ in the pharmaceutical market. There are few commercialized products throughout the global market, so there is no absolute strong player yet.
If the merger is completed, the company’s R&D portfolio will effectively become a complete form of the cell therapy field. There will be more than 20 pipelines for cancer cell therapy in the world’s most attention-grabbing fields such as CAR-NK and CAR-T, 40 patents, and 120 researchers. It is also noteworthy that the branch with the performance-oriented ‘R&D speed-up’ as the banner of the integrated corporation. The integrated corporation expressed collaboration with large pharmaceutical companies or accelerated technology export by utilizing the US local affiliates Artiva and Novacel, such as GC Labcell’s 2 trillion won ‘Big Deal’ earlier this year.
In the cell therapy field, the dependence on outsourcing is more than 50% and (clinical) development is the most active among biopharmaceuticals, so the demand for CDMO is increasing. According to market research firm Frost & Sullivan, the related market size is about $680 million as of 2020. It is also analyzed that the size will more than five times increase to reach $3.7 billion by 2025.
Meanwhile, the convergence process is expected to be smooth as the two companies share corporate culture and vision as affiliates of GC Green Cross and have collaborated on clinical projects.
Reporter Kim Seong-eun [email protected]
Copyrightⓒ ‘Honest knowledge for health’ Comedy.com (http://kormedi.com) / Unauthorized reproduction-redistribution prohibited
Source: 코메디닷컴 by kormedi.com.
*The article has been translated based on the content of 코메디닷컴 by kormedi.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!