South Korea’s Daewoong Pharmaceutical and GC Cell are entering Indonesia’s regenerative medicine and cell therapy markets. Daewoong Pharmaceutical has established a cell therapy and cosmetics production plant in Indonesia through its subsidiary, Daewoong Biologics Indonesia (DBI). The specific investment amount has not been disclosed, but DBI has also built research and development laboratories to target the cell therapy and bio-material aesthetics market. Earlier in 2024, DBI received approval from Indonesia’s Ministry of Health for its stem cell processing facility and certification from the Indonesian food and drug authority.
In a separate development, GC Cell has signed a ‘Technology Transfer and License Agreement’ with PT Bifarma Adiluhung, a stem cell therapy company in Indonesia. This agreement grants Bifarma exclusive rights to develop, manufacture, and commercialize Immuncell-LC for 15 years. Bifarma operates Indonesia’s first GMP-certified cell therapy production facility and has a sales and marketing infrastructure focused on oncology, which will facilitate the distribution of Immuncell-LC.
The Indonesian pharmaceutical market is the largest in Southeast Asia, valued at KRW 13 trillion (USD 9.8 billion) in 2022 and projected to reach KRW 18 trillion (USD 14 billion) by 2026. This market presents significant opportunities for innovative treatments. The introduction of Immuncell-LC is expected to impact cancer treatment in Indonesia, particularly for Hepatocellular Carcinoma (HCC), which affects approximately 23,000 new patients annually in the country.
(Sources: Korea News Plus and BioSpectrum)
