CJ CheilJedang will enter the next-generation bio Contract Development and Manufacturing Organization (CDMO) business.
CJ CheilJedang announced on the 8th that it has decided to acquire about 76% of the Dutch bio CDMO company 'Batavia Bioscience' for 267.7 billion won.
Batavia is a bio company founded in 2010 by management, which was in charge of research and development (R&D) and production of the Janssen Vaccine, a multinational pharmaceutical company. It has the ability to develop the manufacturing process of virus vector vaccines such as as AstraZeneca (AZ) and Janssen's Covid-19 vaccine.
Headquartered in the Netherlands, it also has R&D centers and sales offices in Boston, USA, and Hong Kong, China.
CJ CheilJedang is expected to enter the next-generation bio CDMO market in earnest through Batavia. CJ CheilJedang believes that the use of Batavia's technology and process development optimization platform will reduce production cost and development period at the stage of commercialization of biopharmaceuticals such as vaccines.
Reporter Lee Ji-sun stockmk2020@gmail.com
