SK Inc., the Second Largest Conglomerate in South Korea, has invested $350 million in the Center for Breakthrough Medicines

The Center for Breakthrough Medicines (CBM) announced today that it has received $350 million in equity financing from SK Inc. (KRX: 034730) (SK). CBM is partnering with SK to create the world's largest end-to-end cell and gene therapy contract development and manufacturing organization (CDMO). Center for Breakthrough Medicines‘ headquarters at the Discovery Labs, King of Prussia, Pennsylvania. "This investment enables CBM to further accelerate and scale our capabilities, putting us at the forefront of solving manufacturing challenges in collaboration with our cell and gene therapy product development partners," said Joerg Ahlgrimm, President and CEO, Center for Breakthrough Medicines. Tweet this CBM will leverage this investment to enhance its fully integrated pre-clinical through commercial manufacturing capabilities with world class automation and infrastructure. Existing and future capabilities include process development, viral vector manufacturing, cell processing, plasmid DNA, cell banking, and a full suite of complimentary analytical development and testing capabilities.
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