Cision PR Newswire
ST Pharm breaks ground on 2nd State-of-the-Art Oligonucleotide Facility
News provided byST Pharm Co., Ltd.
Sep 18, 2023, 9:16 PM ET
SEOUL, South Korea, Sept. 18, 2023 /PRNewswire/ -- ST Pharm successfully marked the completion of its groundbreaking ceremony, signaling a significant step forward in expanding its oligonucleotide manufacturing capacity and capabilities.
The current expansion is in response to the growing demand for oligonucleotide therapeutics, including ASO, siRNA, and CRISPR, and it is not only to increase the capacity from 6.4 mol to 14 mol, but also to enhance overall capabilities.
To diversify its operational scope, the new facility will be designed to accommodate different scales of production. Initially, it will introduce three new production lines, with capacities of 1.8 mol (large scale), 400 mmol (mid scale), and 100 mmol (small scale), and the facility has flexibility to add two more lines for future growth.
With a total investment of $110 million USD, the construction of the new oligonucleotide facility at ST Pharm Banwol Campus planned for completion in 2025 will cover approximately 3,300 squares meters (10,900㎡), standing at a height of 60 meters across 7 floors.
The state-of-the-art facility will harness automation and digitization to streamline operations and leverage know-how that is already available for enhanced productivity, robustness, and agility resulting in reduced labor cost and improved overall cost-efficiency.
Furthermore, ST Pharm is dedicated to reducing its carbon footprint and advancing sustainability. The new facility will implement waste recycling, water-saving process, and introduce the new technologies that extend lifespan of filters, and energy-efficient technologies.
Research & Markets predicts substantial growth in the oligonucleotide therapeutics market, with a projected increase from $7.70 billion USD in 2021 to $16.36 billion USD in 2030, reflecting a robust CAGR of 11.8% (Source: Data Bridge 2022, Oligonucleotide Synthesis Market Research Report). Oligonucleotides were primarily used for rare disease treatments, but with the expansion of their applications to chronic disease and beyond it is experiencing surging global demand. Notable examples include Novartis' Inclisiran for cholesterol treatment and Pelacarsen for cardiovascular disease.
About ST Pharm
ST Pharm is a technology-driven CDMO, specializing in the development, manufacturing, and commercialization of oligonucleotides, mRNA, and small molecule APIs. ST Pharm has firmly established itself as a leading global provider of oligonucleotide APIs. Leveraging its profound know-how in development and manufacturing of nucleotides and oligonucleotides, ST Pharm expanded its business scope to mRNA CDMO, utilizing its own mRNA platform technology. To learn more about ST Pharm, visit www.stpharm.co.kr or follow ST Pharm on LinkedIn
SOURCE ST Pharm Co., Ltd.
NOTE: This content is not written by or endorsed by "KRQE", its advertisers, or Nexstar Media Inc.