[Photo provided by GC Cell Corp.]
GC Cell Corp., an affiliate of GC Pharma Corp., has signed two separate consignment production deals valued around 8.1 billion won ($6.7 million) in total at its cell center located in Yongin, Gyeonggi Province, the South Korean cell therapy developer announced on Monday.
Under an agreement with San Diego-based Artiva Biotherapeutics, GC Cell will produce AB-101, an investigational umbilical cord blood-derived NK (natural killer) cell therapy, for a phase 1/2 trial in the United States. The production will last for 21 months until the end of next year and the transaction is worth $4.32 million, the company said, adding that the deal value is subject to change pending production schedule and yield levels.
It marks GC Pharma’s first CMO deal for a clinical trial therapy in the U.S., which reflects the industry’s recognition of the company’s expertise and production facility in terms of stability and quality, the company said.
The other deal signed with GC Lab Cell requires GC Cell to produce peripheral blood-derived NK cell therapy MG4101 and mesenchymal stem cell therapy CT3103. GC Cell will manufacture these two therapies and supply them to GC Lab Cell for 21 months at a contract price of 2.87 billion won ($2.37 million) in total.
The latest CMO deals are 22 times larger than GC Cell’s CMO revenue last year, and account for 22.5 percent of the company’s total sales.
Kosdaq-listed GC Cell shares finished 0.46 percent down at 44,000 won on Tuesday.
By Kim Byung-ho and Minu Kim
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