South Korean holding company, GC Corp. has made a definitive arrangement to fully acquire U.S.-based contract development and manufacturing organization, BioCentriq, Inc.
“BioCentriq’s unique expertise in the rapidly growing cell and gene therapy CDMO will be a transformative addition to our business that we believe will accelerate our growth, with additional expansion projects underway adjacent to current BioCentriq facilities,” president of GC, Yong-Jun Huh, said in a press release. “We are thrilled to team up with BioCentriq’s incredibly talented team.”
Under the terms of the agreement, BioCentriq will operate similarly to other GC companies, while still maintaining its niche, the press release reveals. The acquisition broadens the company’s ability to scale CDMO platforms. Raymond James contributed to the transaction as GC’s advisor.
Specializing in the design and development of scalable cell and gene technologies, the company manufactures autologous and allogeneic, and cell therapies, as well as viral vector production, cell and viral banking, and upstream and downstream processing.
Founded in 2019, the company has established a significant presence in the $40 billion health manufacturing industry, tapping into "end-to-end CDMO for cell and gene therapy process development and clinical manufacturing." The company operates several manufacturing facilities across New Jersey.