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G2GBIO Signs Master Service Agreement with Global Pharmaceutical Company for Microsphere Sustained Release Technology
“G2GBIO Signs Master Service Agreement with Global Pharmaceutical Company for Microsphere Sustained Release Technology"
- Initiation of CDO and CDMO global business utilizing platform technology
- Expected to receive orders on a project basis starting from the second half of this year
G2GBIO announced on the 26th that it has signed a Master Service Agreement (MSA) with a global pharmaceutical company in the United States for the provision of microsphere sustained release technology.
The agreement entails that G2GBIO’s sustained release platform technology will be utilised in the global pharmaceutical company’s products under development or on the market. G2GBIO will provide services ranging from formulation development to contract development organization (CDO), and contract development and manufacturing organization (CDMO) services for candidate substances of the global pharmaceutical company.
The test materials supplied to the global pharmaceutical company will be produced at G2GBIO’s Osong headquarters research institute. Facilities capable of producing microspheres at a level of 10-20 kg per batch have been established and are currently undergoing trial operations. The company stated, "With 20kg, we can produce 400,000 vials of diabetes treatment that we are developing" emphasizing its leading position in the field of microspheres.
G2GBIO plans to enter into project-specific contracts and initiate CDO and CDMO businesses as early as the second half of this year. Scaling-up research to expand production capacity will also be conducted after formulation development.
Heeyong Lee, CEO of G2GBIO, said, "This agreement signifies that global pharmaceutical companies have recognized our ability to mass-produce microspheres that are commercially viable on a global scale." He added, "Based on our established capabilities in microsphere formulation development and mass production, we will expand our global CDO and CDMO businesses."
The global pharmaceutical company mentioned is ranked within the top 20 in terms of market capitalization worldwide. They were attracted to G2GBIO’s expertise in the microsphere technology field and considered their capabilities and plans for formulation development and large-scale production facilities.