Monday, 08 August 2022

South Korea-based SK Inc. invests $350 M in ‘Centre for Breakthrough Medicines’

11 January 2022 | News

The Centre for Breakthrough Medicines and SK Inc. are partnering to hire 2,000 advanced therapy experts and build the largest manufacturer of cell and gene therapies in the world

image credit- businesswire

image credit- businesswire

The Centre for Breakthrough Medicines (CBM), based in the US, has received $350 million in equity financing from South Korea-based SK Inc. CBM is partnering with SK to create the world's largest end-to-end cell and gene therapy contract development and manufacturing organization (CDMO).

CBM will leverage this investment to enhance its fully integrated pre-clinical through commercial manufacturing capabilities with world class automation and infrastructure. Existing and future capabilities include process development, viral vector manufacturing, cell processing, plasmid DNA, cell banking, and a full suite of complimentary analytical development and testing capabilities. 

In addition to supporting lab and GMP suite build-out, this investment will also enable strategic joint ventures, sponsored research agreements, and development of proprietary technology platforms.


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