Samsung BioLogics Plans IPO on Korean Stock ExchangeBy
Samsung BioLogics, a contract biologics manufacturer based in Seoul, Korea, has announced plans for an initial public offering (IPO) on the KOSPI (Korea Composite Stock Price Index) this year, following a resolution by its board of directors. Samsung BioLogics will select lead managers for the IPO next month to decide on the exact timing of the listing and the volume of shares to be offered.
Samsung BioLogics is investing a total of 850 billion won ($745 million) in its third plant with a capacity of 180,000 liters, which is expected to be completed by 2017 and begin operation in the fourth quarter of 2018 after validation. With the new facility operational in 2018, Samsung BioLogics will have total biologics production capacity of 360,000 liters.
Samsung BioLogics was established in April 2011. Its services include cell-line generation, process and analytical method development, analytical services (characterization, comparability, IPC, lot release & stability) clinical and commercial bulk cGMP manufacturing of drug substance and drug product, including quality assurance, quality control, and worldwide regulatory compliance standards and support.
Source: Samsung BioLogics