BGIC Join Hands With Genexine Inc. Of South Korea To Support Future Development of Thai Bio-Pharmaceutical Industry

Event Calendar Press Releases Thursday September 26, 2019 09:53
Bangkok--26 Sep--Bio Genetech International

"BGIC", Thailand's leading biotechnology developer, joins hands with South Korea's giant bio-tech industry, Genexine Inc. and experts from all related sectors, in a development of Thailand's pharmaceutical industry, supported by dramatic growth of biopharmaceutical market worldwide. BGIC aims to upgrade Thai biopharmaceutical industry on an international level. It targets at becoming number one research and manufacturing hub of biopharmaceutical development in ASEAN.

Mr. Marut Buranasetkul, Bio Genetech International Co., Ltd., the Business Developer of Biotechnological products with a strong emphasis on biopharmaceutical drug developments, revealed that BGIC sees opportunities and the benefits of the biopharmaceutical manufacturing industry in Thailand, which will propel the country to the next level of new economy model. Memorandums of understanding with leading domestic and international educational institutions have been signed in order to support the research and development of biopharmaceutical products. BGIC is ready to act as a hub of business creation, to provides industrial and IP services specialized for biotechnology, including IP management, patenting, license–in & license-out management, industrial process improvement, operation and construction of green field biotechnology projects as well as technology transfer to and localization.

Overall, the modern medicine market of the world in 2018 was valued at 24 trillion baht, with a growth of 6.5%. The growth of biopharmaceutical industry is 13% while Asia has a growth of 19%, which is higher than the global scale and continues to grow. The overall market of Thailand is around 1.8 billion baht, growing around 6.5%, most of which are still the synthetic chemical market, about 70%. Biological drugs, although currently only 30%, but the growth has reached 16-19%. It is likely to have a proportion of at least 50% within 5 - 10 years from now and Thailand is expected to be able to produce bio-pharmaceuticals by domestic research in the near future.

Mr. Marut said BGIC maintains a vast network of experts, whether in educational, governmental, and private sectors in order to meet the goal of bringing the biopharmaceutical industry of Thailand to global level. Recently, a memorandum of cooperation with King Mongkut's University of Technology Thonburi (KMUTT) to develop the biopharmaceutical industry in Thailand has been signed, to build capacity in supply chain linkage of the pharmaceutical and biopharmaceutical industry in Thailand in order to support inclusive growth of the local industry with an eye set on global market.

Following the MoC, a joint venture agreement has been signed between KinGen Holdings (KGH) (a company in the BGIC group) and Genexine Inc. each holding 50% of stakes to invest in KinGen Biotech, a contract development and manufacturing organization of biopharmaceutical products, KinGen Biotech estimates that revenue in the year 2019-2026 is approximately 220-250 million US dollars. Furthermore, another joint venture company for development of biopharmaceutical drug candidates under the name KinGen Laboratory will be established. By 2027, the goal is to produce new biopharmaceutical drugs for cervical cancer patients, autoimmune patients, HIV-infected people, and hepatitis B virus patients. The estimated market value in 2027 is expected to worth more than 1 billion US dollars.

In this regard, BGIC has collaborated with the National Biopharmaceutical Facility (NBF), which was co-founded in 2014 by KMUTT and the National Science and Technology Development Agency (NSTDA) at King Mongkut's University of Technology Thonburi (KMUTT) Bangkhuntien Campus. The facility comprises of biopharmaceutical manufacturing capabilities including fermentation, cell culture, downstream processing and fill and finish of sterile parenteral drugs under GMP standards.

Mr. Marut concluded that the biotechnology industry is growing day by day due to increased acceptance of biopharmaceutical drugs as mainstream treatments of severe diseases as can be seen from the sale figures of the world's top 20 drugs, wherein 13 are already of biological sources. This is a great opportunity for the local pharmaceutical industry, which enjoying support from the Royal Thai Government under the framework of Thailand 4.0 and the new S-Curve industry strategy.

1 Biopharmaceutical means pharmaceutical or drug produced from living things from biotech processes such as vaccines, blood components, and proteins for treatment.

2 Biological material (biological medicine) means modern medicine which is produced from living organisms of microbial culture or advanced cells, extraction substances from living tissues, including humans, animals and plants, techniques of mixing different varieties microbial propagation in embryos or in animals. Extraction or separation of blood and plasma or other processes as prescribed by the Minister by publication in the Government Gazette (Definitions in accordance with the Ministerial Regulations on the Approval of the Generation of Modern Medicines for Medicine in 2010).

About Genexine

Genexine, Inc., listed on KOSDAQ (095700) since 2009, is a leading biotherapeutics company focused on immuno-oncology and orphan disease. Genexine has a robust pipeline of products in the clinical stage, e.g. Hyleukin-7(TM), HyTropin (GX-H9), Papitrol (GX-188E), etc. based on long-acting Fc fusion technology and therapeutic DNA vaccine technology. Genexine has completed multinational phase II trials and is preparing to apply IND of US Phase III trial for HyTropin (long-acting human growth hormone, hGH-hyFc). Papitrol, a therapeutic DNA vaccine for HPV-associated diseases, is under Phase II in Europe and Korea for Cervical Intraepithelial Neoplasia (CIN) II/III. Founded in 1999, Genexine has over 180 employees, and half of them are scientists with MSc, or Ph.D. Genexine is located in Pangyo Techno Valley near Seoul, Korea.

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