September 19, 2023
FOR IMMEDIATE RELEASE
– CBM brings extensive cell and gene therapy expertise to SK pharmteco portfolio and continues SK pharmteco’s strategy to deliver end-to-end, multi-modality support for clients
– SK pharmteco previously invested $350 million in CBM in 2022
RANCHO CORDOVA, Ca. & KING OF PRUSSIA, Pa. (Sept. 20, 2023) – SK pharmteco continues its trajectory to become the leading multi-modality CDMO by announcing it is acquiring a controlling interest in Philadelphia-based cell and gene therapy CDMO Center for Breakthrough Medicines (CBM), a move that will expand SK pharmteco’s technical expertise, production capacity, and geographic reach.
Today’s announcement is less than two years after an initial $350 million capital investment in 2022 and comes on the heels of SK pharmteco’s acquisition of Yposkesi, a French viral vector CDMO, in March 2021. SK pharmteco will have a controlling stake in CBM, and the operations of CBM will be integrated with Yposkesi to establish a global CGT business unit with unprecedented capabilities and capacity.
“With CGT manufacturing sites in both Europe and the U.S., SK pharmteco is closer to its goal of being a leading CDMO that produces both chemical APIs and biologic drugs,” said Joerg Ahlgrimm, CEO of SK pharmteco. “As we continue our journey from being a leader in small molecule development and manufacturing to being a leader in multiple modalities, including CGT, we will ensure our focus remains on our unwavering dedication to providing lifesaving therapies to patients around the world and bringing solutions to our clients.”
SK pharmteco will have end-to-end cell and gene therapy offerings in both the U.S. and Europe, providing comprehensive services and expertise, including process development, plasmid DNA production, viral vector manufacturing, cell therapy processing, and fully integrated testing and analytics.
Additionally, SK pharmteco will continue to invest in building one of the largest CGT CDMOs in terms of capacity and capabilities, with a focus on emerging technologies and new approaches to complement the existing platforms offered to its clients in both adherent and suspension processes.
“The Center for Breakthrough Medicines team is truly excited to join the SK pharmteco family, a global leader in the CDMO industry,” said Audrey Greenberg, co-founder and chief business officer of CBM. “Working together with Yposkesi, AMPAC fine chemical, and SK Biotek, we are very well positioned to work with our clients in saving millions of lives around the world.”
SK pharmteco is a subsidiary of SK Inc. (KRX: 034730) (SK), the strategic investment company for SK Group, South Korea’s second-largest conglomerate, and has 13 offices and manufacturing facilities across the U.S., Europe, and Korea, all with a combined vision to provide life-changing and lifesaving therapies to more than 200 million patients by 2026.
About SK pharmteco
Headquartered in Rancho Cordova, Calif., SK pharmteco is a global contract development and manufacturing organization specializing in the production of active pharmaceutical ingredients (APIs), advanced intermediates, and cell and gene therapy for the pharmaceutical industry. SK pharmteco is comprised of six business units: SK Biotek Korea, SK Biotek Ireland, AMPAC Fine Chemicals, AMPAC Analytical Laboratories in the U.S., Yposkesi and the Center for Breakthrough Medicines. SK pharmteco is owned by SK Inc., the strategic investment arm of South Korea’s SK Group. For more on SK pharmteco, visit skpharmteco.com. For more on SK, visit sk.com.
About The Center for Breakthrough Medicines
Center for Breakthrough Medicines (CBM) is a purpose-built and patient-driven, cell and gene therapy contract development and manufacturing organization (CDMO) uniquely positioned to enable pharma and biotech companies to develop, test, and manufacture life-saving therapies on a global scale. Ideally located in the heart of Philadelphia’s Cellicon Valley, CBM is the U.S. headquarters for SK pharmteco Cell & Gene, which is comprised of CBM and Paris-based Yposkesi, a viral vector CDMO, who together have assembled the most accomplished experts in the world, armed with cutting-edge and innovative technologies, to offer scalable, end-to-end, best-in-class services to provide life-changing – and life-saving – therapies around the world.
Keith Bowermaster, APR, CCMP
SOURCE: SK pharmteco