Advancing as Global CDMO in Line with Korean Government's Bio-health Industry Innovation Plan
In line with the new government’s plan to nurture Korea’s Bio-health industry, Prestige Biologics is devoting itself to expanding business and stepping up as a global CDMO.
On July 27, the government announced an industrial innovation plan that includes providing more support for the development of local COVID-19 vaccines and treatments, ways to increase private investment, and the easing of unnecessary regulations.
Earlier, Prestige Biologics has announced that it will invest KRW 169.9 billion in vaccine and biologics manufacturing facilities by 2023. With its global scale biomanufacturing facilities that boast a total production capacity of 154,000L, the company is advancing to the global CDMO market. In addition, Prestige Biologics is also reinforcing its vaccine business with Plant 3 (Voyager) which is a manufacturing facility dedicated to vaccines with 88,000L capacity.
Prestige Biologics has gained recognition for its state-of-the-art facilities and proprietary technology. The company has acquired four biomanufacturing-related patents this year alone and won the Best CDMO Award in ‘Korea Bioprocessing Excellence Award 2022’ last June. Currently Prestige Biologics is focusing on securing new clients and contracts by participating in international exhibitions and establishing a new division dedicated to business development.