Orion Holdings Establishes Production Facility for Chinese Cancer In Vitro Diagnostic Products

Orion Headquarters Exterior View

[Asia Economy Reporter Seungjin Lee] Orion Holdings announced on the 4th that it has completed the establishment of local production facilities for mass production of cancer in vitro diagnostic products in China.

The facility was built in Jining City, Shandong Province, where the production plant of its Chinese partner, 'Shandong Lukang Pharmaceutical,' is located. Following the completion of a laboratory for cancer in vitro diagnostic product development last September, the company has solidly laid the foundation for entering the Chinese bio market by equipping large-scale mass production facilities.

Orion Holdings is promoting the discovery and introduction of technologies in the in vitro diagnostics field through its joint venture established in March in China, 'Shandong Lukang Haoriyou Biotechnology Development Co., Ltd.' The strategy is to successfully showcase the technologies of excellent domestic bio-venture companies in severe disease in vitro diagnostics in the Chinese market and open the era of 'K-Bio.'

This year, Orion Holdings is accelerating its entry into the Chinese market by investing 10 billion KRW in its partners 'Genomictree' and 'Curatis.' The company is focusing on discovering excellent domestic bio-venture companies in the fields of infectious disease vaccines and severe disease in vitro diagnostics, and continues to discover domestic bio and new drug technologies such as synthetic drugs and biopharmaceuticals. To this end, it regularly holds the 'Korea-China Pharmaceutical and Bio Development Forum,' which involves top experts from the domestic financial sector in pharmaceuticals and bio fields. The bio technologies discovered at the forum undergo objective technical evaluation and marketability verification by experts from the bio academia and medical fields in Korea, China, Japan, and other countries before final selection.

An Orion Holdings official said, "By establishing production facilities for 'cancer in vitro diagnostic' products locally in China, we have taken a step closer to entering the Chinese bio market," adding, "Based on the current production facilities, we will discover excellent domestic bio-venture technologies in various fields such as severe diseases and infectious diseases and continue to expand our bio business area locally in China."

This content was produced with the assistance of AI translation services.