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YONGIN, South Korea, June 2, 2023 /PRNewswire/ -- GC Biopharma, a South Korean biopharmaceutical company, announced on Jun. 1st that it has successfully obtained final approval from the Indonesian Ministry of Health for the construction of a plasma fractionation plant and technology transfer.
Earlier in Jan., the company was successfully selected by the Indonesian government as the preferred bidder for the license of plasma fractionation plant construction and technology transfer business. After some detailed consultation and fine-tuning discussions, the company has received an official approval notice for the business.
GC Biopharma is the only company worldwide that has successfully completed the turnkey project of a plasma fractionation plant in an overseas market. Since its first export of a plasma fractionation plant to Thailand, GC Biopharma has been accumulating expertise and know-how in overseas plant construction through successful projects in various countries including China and Canada.
The plant project is the Indonesian government's roadmap to realizing a stable and self-sufficient supply of plasma derivatives derived from the plasma of Indonesian people. Currently, the county relies 100 percent on imported plasma derivatives.
"The project will be yet another opportunity for us to be internationally recognized for our outstanding plasma fractionation technology and the company's half-century legacy", explained GC Biopharma and added that the specific contract size and other details will be announced once the formal contract is signed. This project holds significance in that it is a result of consistent efforts and collaboration between the Korean government and the private sector in the field of biopharmaceuticals, leading to successful bidding from a foreign government.
GC Biopharma first began producing albumin in the 1970s and since then on, it has been producing various plasma derivatives. Currently, the company supplies 12 products to 32 nations worldwide from its Ochang plant. Established in 2009, the Ochang plant is Asia's largest plasma fractionation plant.
About GC Biopharma
GC Biopharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.
This press release may contain biopharmaceuticals in forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.
GC Biopharma Contacts (Media)
Seunghyun Baek
seunghyun.baek@gccorp.com
Sohee Kim
shkim20@gccorp.com
Yelin Jun
yelin@gccorp.com
