STGEN Bio said it has changed its corporate name to BTGEN as of May 1, marking a new start as a contract manufacturing organization for biopharmaceuticals.
STGEN Bio has changed its name to BTGEN as part of its push to strengthen its global biopharmaceutical CMO business. (Credit: BTGEN)
The company said “BT” stands for biotechnology and reflects its ambition to become a new growth driver for the group. The name also carries the meaning of “The next Generation of Bio Technology,” signaling its aim to lead and build next-generation biotechnology together with customers.
BTGEN traces its roots to DM Bio, a joint venture established in 2011 by Dong-A Socio Holdings and Japan’s Meiji Seika Pharma.
The two companies launched a project to build a biopharmaceutical manufacturing plant that met global GMP standards as they sought to enter the emerging biosimilar business, a key growth area in the pharmaceutical industry.
In October 2021, Dong-A Socio Holdings unified the company’s governance structure to accelerate decision-making and focus on the development of the psoriasis biosimilar DMB-3115. The company then changed its name to STGEN Bio in March 2022.
BTGEN said its key strength lies in its high-level quality control. The company has passed inspections by regulatory agencies in 15 countries, including major markets such as the U.S. Food and Drug Administration and the European Medicines Agency, securing global confidence in its quality system and manufacturing capabilities.
As part of preemptive steps to expand its global business, BTGEN plans to invest about 110 billion won ($74.6 million) to expand its production facilities. The expansion will increase its annual production capacity from 9,000 liters to 14,000 liters and strengthen its ability to handle small- and medium-volume production of multiple products.
The company said the expansion will focus on quality enhancement, including the installation of one isolator-type drug product filling line to minimize contamination risks in aseptic filling processes and meet tougher global regulatory standards.
“The corporate name change expresses our determination to become a global bio CMO company,” a BTGEN official said. “Based on our accumulated technological capabilities, we will focus on the intrinsic value of biotechnology while securing production capacity to respond to global demand through the expansion of Plant 1 and become a trusted CMO partner in the global market.”
Lee Han-soo
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