Withers Pharmaceuticals will invest 19.5 billion won in the construction of Korea’s first microfluidics-only factory. Through this, the company has accelerated its entry into the injection business, which it is taking as a future growth engine.
Withers Pharmaceuticals announced on the 23rd that it would expand a dedicated microfluidic plant with a total area of 2,228 pyeong with one basement floor and seven above-ground floors in the existing Anseong plant.
The new plant will be built with the goal of completion next year, and the two floors on the 6th and 7th floors will be used as a dedicated facility for the production of long-acting injections for hair loss treatment recently signed with Inventage Lab and Daewoong Pharmaceuticals.
The company explains that microfluidic is a technology that has dramatically solved the difficulty of controlling drug release of existing polymer-based microsphere formulations. Because this technology can maintain a stable release pattern by securing excellent release pattern and reproducibility, it is suitable for the production of hair loss injections that are once every three months.
Withers Pharmaceuticals has established a high-yield manufacturing process and is expecting high profitability from the new plant.
Withers Pharma official said, “As the domestic and overseas hair loss treatment market is growing rapidly, the establishment of a microfluidic factory will be a game changer that can change the game.” Withers Pharm aims to market a long-acting injection for hair loss treatment. has recently completed the production and supply of phase 1 clinical materials, and phase 1 clinical trials are scheduled to begin in Australia in July.
Withers Pharmaceuticals is evaluated to have laid the foundation for diversifying its business by producing injections from the existing business structure of tablet production with this expansion investment. Withers Pharmaceuticals plans to create a synergistic effect with this investment project by researching, developing, and producing injections for treatment of underlying diseases and hormone-related diseases.
Daeyoung Seong, CEO of Withers Pharmaceuticals, said, “I feel a sense of accomplishment by building a production plant with innovative technology that can eliminate the inconvenience of patients taking daily doses. did,” he said.
Reporter Seo Nak-young [email protected]
Source: 전체 – 넥스트데일리 by www.nextdaily.co.kr.
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