STGEN Bio secures ₩9.8 bil. biopharmaceutical CMO deal

STGEN Bio, the biopharmaceutical contract manufacturing organization (CMO) under Dong-A Socio Group, said Friday it signed a contract manufacturing agreement worth 9.8 billion won ($7.1 million).

The three-year agreement will run from June 2025 through May 2028. The client and specific product details remain confidential due to a non-disclosure agreement.

The deal represents approximately 16.78 percent of the company's 2024 annual revenue of 58.8 billion won.

As a specialized biopharmaceutical CMO, STGEN Bio offers integrated services across both drug substance (DS) and drug product (DP) manufacturing. The company provides end-to-end production capabilities that span from DS to pre-filled syringe (PFS) filling, all within a single cGMP-certified site.

Leveraging this comprehensive infrastructure, STGEN Bio has passed simultaneous inspections by the U.S. FDA and the European Medicines Agency (EMA). In addition, it holds GMP certifications from eight national regulatory authorities, including those in the U.K., Thailand, and Turkey.

“Building on our advanced DS and DP systems, we plan to secure strategic global partners and expand our service platform across all CMO sectors,” a company official said. “We will continue to differentiate ourselves in emerging modalities and strengthen our leadership in quality and manufacturing to ensure sustainable growth.”