PanGen Biotech, a biologics-specialized affiliate under Huons Group, said on Wednesday it signed a contract manufacturing organization (CMO) agreement with CHA Biotech Group's CHA Vaccine Institute.
CHA Vaccine Institute is a Kosdaq-listed company that develops next-generation vaccines and immunotherapy drugs using its proprietary immune-boosting platform technology.
Under the agreement, CHA Vaccine Institute has outsourced its project worth 1.9 billion won ($1.29 million) to PanGen. The key terms of the agreement were not disclosed due to confidentiality.
PanGen provides contract development and manufacturing organization (CDMO) services for biopharmaceuticals and also manufactures and sells biosimilars based on its expertise in developing original cell lines and establishing processes for biopharmaceutical production.
PanGen CEO Yoon Jae-seung said, “CHA Vaccine Institute and PanGen have been collaborating since the beginning of our businesses, including joint development and PanGen's CDMO contract for biopharmaceuticals. This CMO contract is another collaboration, and we will continue to work closely with CHA Vaccine Institute for mutual growth.”
PanGen was incorporated into Huons Group in December 2024.
In 2024, PanGen turned to a surplus due to strong overseas sales of its erythropoietin (EPO) biosimilar and rising CDMO sales.