MEDIPOST announced on the 14th that it has initiated the expansion of its GMP manufacturing facility with a projected investment of KRW 10 billion won to anticipate for the increase in the sales of CARTISTEM® and the production of new pipeline of products.
MEDIPOST recently completed acquisition of expansion space and commenced the design layout and plans to begin construction by early next year with the aim of completing the construction of expanded GMP manufacturing facility by December 2020.
The expanded GMP manufacturing space, with a projected investment of KRW 10 billion won for site purchases and facility construction, will be in close proximity to the current GMP manufacturing facility located in Guro Digital Complex in Seoul, which currently manufactures and releases CARTISTEM®.
Over time, the manufacturing Quality Control capabilities will be relocated to the new expanded facility.
A MEDIPOST official said, “We have decided to expand our GMP manufacturing facility because the sales volume of CARTISTEM® (for the treatment of knee osteoarthritis), is rapidly increasing, and the demand for production capacity expansion has increased due to the commencement of the clinical trial of injectable cell therapeutics using the SMUP-Cell platform technology.”
Furthermore, it was added that “after completion, we will be able to produce up to 20,000 vials of the CARTISTEM® finished products per annum, which will fully cover the growing demand for CARTISTEM® in domestic market.”