Korea’s SK Group Acquires 70% Equity in French Gene Therapy CDMO

The cell and gene therapy market was estimated at around 2.6 billion in 2020 and was projected to reach about 25 billion in 2027 with a CAGR of 33.82%, making it one of the fastest-growing segments in the pharmaceutical industry. With that, the need for manufacturing surges along the way.

 

Acquisition of 70% Equity in Yposkesi

Korea’s SK Group seems to want to strike it while it’s hot. On March 30th, the company announced the acquisition of Yposkesi, a French gene therapy Contract Development and Manufacturing Organisation (CDMO). The financial details of the deal are undisclosed at the moment.

SK Group will then hold 70% of shares and become the biggest shareholder of Yposkesi. And the founding shareholders AFM-Telethon, Genethon, and CECS will possess 25% shares while the rest will be held by Bpifrance.

 

Aiming for Bigger Production Power

The cross-country buyout would give SK Group a better chance in the global gene therapy manufacturing market. Yposkesi can help it gain a bigger manufacturing power in gene therapy products and cut down on costs. In addition, the location of Yposkesi can let SK Group tap markets in Europe and the US easier, extending its global reach.

SK Group intends to double the production capacity at the Corbeil-Essonnes site to meet the needs of manufacturing viral vectors, a popular technique to deliver gene therapy, and clinical trials.

“The SK Group is excited to enter the gene and cell therapy business,” added Dong Hyun Jang, chief executive officer of SK Inc. “We have full confidence in the capability and potential of Yposkesi and we are certain that it will be a great addition to our CMO business.”

Yposkesi will function under SK Group’s US-based CMO business, SK Pharmteco.

Related Article: SK Holdings Supports Roivant’s New Protein Degradation Platform with US$ 200 Million Investment

©www.geneonline.news. All rights reserved. Contact: service@geneonlineasia.com