Phangen Selected for Ministry of Trade, Industry and Energy's National Bioindustry Core Technology Development Project
Development of High-Performance Cytokine Medium Additives Based on PanGen's Proprietary Technology
Activation of Cell Therapy Development through Localization of Expensive Imported Additives
[Asia Economy Reporter Eunmo Koo] Pangen, a biopharmaceutical company, announced on the 1st that it has been selected as the lead organization for the 2020 Bioindustry Core Technology Development Project, hosted by the Ministry of Trade, Industry and Energy.
The Bioindustry Core Technology Development Project (Bioindustry Production Advancement) is a national project aimed at promoting industrialization and enhancing industrial competitiveness by developing core technologies in the promising new bioindustry sector, thereby creating future new growth engines. The government is investing a total of 3 billion KRW over three years, collaborating with two participating organizations. With this selection, Pangen will promote the localization of high-performance customized media additives to enhance the production efficiency of biopharmaceuticals.
A Pangen official stated, “We plan to secure mass production technology for cytokines and growth factors derived from animal cells that have quality similar to human proteins in the body by utilizing the company’s high-expression animal cell system,” adding, “This will enable the replacement of microbial-derived products, which currently dominate the global market, allowing the supply of high-quality cell therapy culture additives.”
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He continued, “Through this national project, we plan to localize products that were previously dependent on imports and create an environment to supply reasonably priced products,” and added that by serving as an alternative to imported products and reducing production costs, the project will contribute to revitalizing domestic cell therapy development while gradually promoting entry into advanced markets.
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