BioCentriq Inc., a Newark-based gene technology company, is being acquired by South Korea-based GC Corp., according to a Tuesday announcement. This cross-border acquisition broadens GC’s capabilities in scaling contract development and manufacturing organization platforms.
According to a news release, GC Corp. signed a definitive agreement to acquire 100% of the shares of the New Jersey Innovation Institute’s cell and gene therapy development and manufacturing center.
In January, BioCentriq announced it completed its 9,000-square-foot facility in South Brunswick, which is adjacent to its existing pilot plant and includes all the supporting infrastructure and lab space to support the clinical manufacturing of allogeneic and autologous cell therapies and gene therapies.
BioCentriq is well-positioned in the potentially $40 billion addressable market, as an end-to-end CDMO for cell and gene therapy process development and clinical manufacturing with cGMP-grade clinical manufacturing facilities across locations in New Jersey.
The company manufactures autologous and allogeneic cell therapies and gene therapies and specializes in viral vector production, cell and viral banking, and upstream and downstream processing.
“BioCentriq’s unique expertise in the rapidly growing cell and gene therapy CDMO will be a transformative addition to our business that we believe will accelerate our growth, with additional expansion projects underway adjacent to current BioCentriq facilities,” said Yong-Jun Huh, president of GC. “We are thrilled to team up with BioCentriq’s incredibly talented team.”
Going forward, BioCentriq will operate in a mode similar to other GC companies, wherein each company maintains its individual culture and identity while sharing best practices.