CanariaBio "Entering Global Value Chain... Stepping Up as a Bio Pharmaceutical Group"

[Asia Economy Reporter Jang Hyowon] Canaria Bio M (CEO Nahanik), the parent company of Canaria Bio (CEO Nahanik), which is conducting the global Phase 3 trial of the ovarian cancer treatment Oregovomab, has expressed its ambition to become a comprehensive bio-pharmaceutical group by not only developing new drugs but also entering the global value chain of the pharmaceutical and bio industries through the acquisition of Sejong Medical.

The Canaria Bio Group took the first step toward achieving its vision by acquiring Dowon Science Pharma, which is building a GMP production facility. On the 12th, Sejong Medical announced that it would acquire 100% of Dowon Science Pharma.

Dowon Science Pharma has been preparing a factory for entry into the pharmaceutical industry over the past two years and submitted GMP certification documents to the Ministry of Food and Drug Safety last week. Preparations for the production of external solutions, ointments, and creams have been completed, and with this investment from Sejong Medical, they plan to complete the tablet and capsule production lines. Starting with the production of synthetic drugs, they are ultimately considering the production of biopharmaceuticals.

They plan to expand their scope not only in production but also in distribution. Sejong Medical is expected to strengthen Dowon Science Pharma’s sales organization and attempt the distribution of Oregovomab, developed by Canaria Bio, in Korea. The goal is to build a value chain covering the entire pharmaceutical industry, from new drug development to production and distribution.

Additionally, the Canaria Bio Group plans to enter auxiliary industries of the pharmaceutical sector. They have expressed their ambition to play a pivotal role in the Korean bio ecosystem by expanding into consulting industries such as preclinical and clinical CROs, product approval, and technology export.

Recognizing that having many group companies with cash-generating capabilities is essential for the continuous investment required in new drug development projects, their strategy is to acquire companies that can become cash cows through ongoing M&A activities.

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