CHA Biotech's US subsidiary breaks ground for biologics plant

[Photo by CHA Biotech Co.]

South Korea’s CHA Biotech Co. said on Wednesday its USA subsidiary Matica Biotechnology has held a groundbreaking ceremony for CDMO (Contract Development Manufacturing Organization) production lines to manufacture cell and gene therapies in College Station, Texas. The cGMP facility will be equipped with 500-liter bioreactors and manufacturing devices to produce viral vectors to be used in next-generation cancer and gene therapies.

Matica Biotechnology signed a land-lease contract for its plant site from Texas A&M University in December. Construction will be completed at the end of this year, and full-scale production is expected in 2022.

Matica Biotechnology plans to develop and produce viral vectors used in cell and gene therapies for local customers.

CHA Biotech shares fell 0.56 percent to close at 17,850 won ($16.1) on Wednesday.

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