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Biopharma leader Sartorius to invest USD 100 mln in Songdo bio-cluster
Sartorius Korea, a German-based international pharmaceutical and laboratory equipment supplier, announced its investment plan worth KRW 100 million in the bio-cluster in 1Songdo Int’l City (or Songdo international business district: IBD).
Incheon Free Economic Zone (IFEZ) said on Nov 4 that the head of Sartorius Korea Biotech, the German biopharma’s Korean office, made an official visit to Songdo G-tower and shared a copy of investment letter of intent on behalf of the headquarters in Gottingen, Germany with the IFEZ’s Commissioner.
The investment deal elaborates on the outline of partnership, with provisions of financing as much as KRW 100 million to build up a new research and production facilities for Sartorius’ Single Use Bag and bacterial culture media development. Both also agreed to join forces to further advance biopharmaceutical manufacturing in the cluster.
Sartorius group was first founded in 1870 in Germany, developing biopharma engineering solutions and lab equipment. As of 2019, they earned sales revenue of EUR 1.83 billion, employing nearly 9,000 workers in 30 countries. They’re now planning to build up a production hub in Sondo, forming global networks to supply technologies for value-added biopharmaceutical products worldwide.
smj@yna.co.kr
Date
2020.11.12
According to Yonhap News,
Sartorius Korea, a German-based international pharmaceutical and laboratory equipment supplier, announced its investment plan worth KRW 100 million in the bio-cluster in 1Songdo Int’l City (or Songdo international business district: IBD).
Incheon Free Economic Zone (IFEZ) said on Nov 4 that the head of Sartorius Korea Biotech, the German biopharma’s Korean office, made an official visit to Songdo G-tower and shared a copy of investment letter of intent on behalf of the headquarters in Gottingen, Germany with the IFEZ’s Commissioner.
The investment deal elaborates on the outline of partnership, with provisions of financing as much as KRW 100 million to build up a new research and production facilities for Sartorius’ Single Use Bag and bacterial culture media development. Both also agreed to join forces to further advance biopharmaceutical manufacturing in the cluster.
Sartorius group was first founded in 1870 in Germany, developing biopharma engineering solutions and lab equipment. As of 2019, they earned sales revenue of EUR 1.83 billion, employing nearly 9,000 workers in 30 countries. They’re now planning to build up a production hub in Sondo, forming global networks to supply technologies for value-added biopharmaceutical products worldwide.
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smj@yna.co.kr
Source: Yonhap News (Nov 4, 2020)
** This article was translated from Korean.