PanGen Biotech

About PanGen Biotech

PanGen Biotech Inc. is a South Korea-based biopharmaceutical company specializing in the development of biosimilar products and providing contract development and manufacturing organization (CDMO) services. The company operates in both domestic and international markets, including China, India, Mexico, America, and Europe. PanGen has demonstrated significant growth, with annual sales reaching 14.67 billion won ($10.2 million) in 2024, a 101% increase from the previous year, which also marked a return to profitability.

The company's business model is centered on two main pillars: the development and sale of biosimilar drugs and offering technology transfer and contract manufacturing services. Its CDMO services leverage a proprietary patented technology, PanGen CHO-TECH TM, for developing high-expression and stable Chinese Hamster Ovary (CHO) cell lines, which are crucial for the mass production of therapeutic proteins. This service covers the entire spectrum from cell line development to production process and analytical method development. Revenue is generated from the sale of its biosimilar products, such as an erythropoietin (EPO) biosimilar, and royalties and fees from its CDMO and technology transfer services.

PanGen's product pipeline includes several biosimilars for major indications. A key product is its biosimilar EPO, which has seen growing sales in Malaysia, the Philippines, Saudi Arabia, and Turkey. The company is also developing a biosimilar for Aflibercept (used for macular degeneration) and is working on what could be the world's first treatment for the tick-borne severe fever with thrombocytopenia syndrome (SFTS) in collaboration with the Korea Disease Control and Prevention Agency. Other pipeline products target conditions like hemophilia A and neutropenia.

Significant corporate developments include its acquisition by Huons Co., Ltd., which invested KRW 14.3 billion for a 31.53% stake, making PanGen a subsidiary. This strategic move aims to bolster Huons' biopharmaceutical R&D and CDMO capabilities. PanGen has also engaged in its own strategic acquisitions, such as the agreement to acquire PANACEA Inc. in 2024. Under the leadership of CEO Yoon Jae-seung, the company plans to continue expanding export channels and securing new CDMO contracts to drive future growth.