General business

GC corp., the holding company of GC Group in South Korea, has signed a definitive agreement to acquire 100% of the shares of BioCentriq, Inc., a pioneering Newark-based contract development and manufacturing organization (CDMO) that designs and develops cellular and genetic technologies.

Founded in 2019 as a New Jersey Innovation Institute company at NJIT, BioCentriq is well positioned in the potential $40 billion CDMO market for cell and gene therapy process development and clinical manufacturing, with a manufacturing facility clinical-grade cGMP at multiple New Jersey sites. The company manufactures autologous and allogeneic cell therapies and gene therapies and specializes in the production of viral vectors, cell and virus banks, and upstream and downstream processing.

This cross-border acquisition expands the capabilities of GC companies in scaling CDMO platforms.

“BioCentriq’s unique expertise in the rapidly growing cell and gene therapy CDMO will be a transformative addition to our business that we believe will accelerate our growth, with additional expansion projects underway alongside BioCentriq’s current facilities. . said Yong-Jun Huh, chairman of GC. “We are thrilled to team up with the incredibly talented team at BioCentriq.”

Going forward, BioCentriq will operate in a mode similar to other GC companies, in which each company retains its individual culture and identity while sharing best practices.

For more business news, visit NYC News Now.

Related Articles: