KOR-based Hanmi Fine Chemical expands to high-tech CDMO services
Category: #health  By Pankaj Singh  Date: 2022-05-23
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KOR-based Hanmi Fine Chemical expands to high-tech CDMO services

Hanmi Fine Chemical, a Hanmi Pharmaceutical Group subsidiary, has reportedly expanded its business from existing APIs (Active Pharmaceutical Ingredient) to high-tech CDMO services.

Owing to the pandemic, the demand for synthetic, high-level bio-pharmaceutical raw materials is increasing globally. Some of the raw materials include the ones used in mRNA vaccines, including nucleotides, lipid nanoparticles (LNP), polyethylene glycol (PEG) derivatives, capping materials, and peptides.

Hanmi FC will invest USD 7.9 million (10 billion KRW) to develop facilities for high-tech CDMOs. A year ago, the company was selected to oversee the government project for expanding production plants for raw materials and COVID-19 vaccines and received USD 1.26 million (1.6 billion KRW) to support such efforts.

Moreover, Hanmi intends to upgrade these plants further by directing USD 6.3 million (8 billion KRW) from its funds.

The subsidiary has acquired global competition in the field of CDMO by taking part in research and development for the biologics and anticancer drugs of Hanmi Pharmaceutical.

Furthermore, Hanmi FC has successfully passed GMP inspections in leading nations with advanced pharma sectors like Japan, the UK, Germany, and the US FDA.

Currently, Hanmi FC oversees the production and development of raw materials for the innovative new drugs of its parent company. This includes MKI (in partnership with Aptose), Belvarafenib (in partnership with Genentech), and Poziotinib (in partnership with Spectrum).

Additionally, it is developing and producing raw materials for LAPSGlucagon Analog, LAPSDual Agonist, LAPSTriple Agonist, and LAPSGLP-2 Analog, the core biologics of Hanmi Pharmaceutical.

Competition-wise, Hanmi FC is overseeing clinical and preclinical CDMO projects worth USD 7.9 million (10 billion KRW) with ten foreign and domestic companies. The company is anticipated to form alliances with more companies in the latter half of this year.

To expand the performance of its global CDMO business, Hanmi FC is proactively participating in various foreign and domestic exhibitions.

Source credit:

https://www.prnewswire.com/news-releases/hanmi-fine-chemical-launches-high-tech-cdmo-business-301552577.html



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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