• To commence operation by 2027…with max. 400K liters of plasma production capacity per annum
• The first step towards localization of Indonesia's critical medical product

YONGIN, South Korea, Dec. 6, 2023 /PRNewswire/ -- GC Biopharma, a South Korean biopharmaceutical company, announced on December 6^th that it has participated in the groundbreaking ceremony of a plasma fractionation plant held at Jababeka Industrial Estate in Indonesia, one of the company's overseas plant construction projects.

Backed by the Indonesian government's proactive support, the groundbreaking for what will become the nation's first-ever plasma fractionation plant was held after only 6 months following the Indonesian government's decision to approve the construction by GC Biopharma in June.

Eun-chul Huh, CEO of GC Biopharma, and Chung-Gwon Park, Representative Director of GC EM, took part in the ceremony organized by the Ministry of Health of Indonesia with the participation of 150 or so high-profile Indonesian government officials, including Budi Gunadi Sadikin, Minister of Health, H. Muhammad Jusuf Kalla, Chairman of the Indonesian Red Cross Society and Soo-deok Park, Deputy head of mission of the republic of Korea..

The plant will be built on a 40-thousand-m² land within the Jababeka Industrial Estate located 35km east from the nation's capital city of Jakarta. With the maximum capacity of 400 thousand liters of plasma fractionation a year, the plant aims to commence operation by 2027.

Since Indonesia has been relying 100% on the imported plasma-derived products, the groundbreaking for the plant marks the onset of local production journey of the nation's critical medical product, to which many government officials showed strong support by participating in the ceremony.  

In his congratulatory remarks at the ceremony, Eun-chul Huh, CEO of GC Biopharma, said, "GC Biopharma is particularly honored and pleased to have the opportunity to participate in this first step towards the long-cherished and historic project of localizing the production of plasma-derived products in Indonesia. Looking beyond the successfully completion of the plant construction, GC Biopharma will continue to further expand our collaboration on and support for the advancement of the Indonesian healthcare industry." 

GC Biopharma has obtained approval for the construction and technology transfer of plasma fractionation plant from the Indonesian government in June this year and signed an MOU with the Indonesian Red Cross and a local pharmaceutical company for the project.

In fact, GC Biopharma is the only company worldwide that has completed the construction of plasma-derived products plant in the overseas market. Since its first export of blood products plant to Thailand as a Korean drugmaker, GC Biopharma has been accumulating expertise and knowhow in overseas plant construction through successful projects in various countries including China and Canada.

About GC Biopharma

GC Biopharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.

This press release may contain biopharmaceuticals in forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.

GC Biopharma Contacts (Media)
Seunghyun Baek
seunghyun.baek@gccorp.com
Sohee Kim
shkim20@gccorp.com
Yelin Jun
yelin@gccorp.com