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Kalbe Farma’s subsidiary secures $55m investment for new cancer drugs, expansion
PT Kalbe Genexine Biologics (KGBio) focuses on producing cancer immunotherapy drugs, a rising alternative to the hair loss-inducing cancer chemotherapy method.
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Various drugs produced by publicly listed pharmaceutical company PT Kalbe Farma are pictured in this file photo. (Kontan/Daniel Prabowo)
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T Kalbe Genexine Biologics (KGBio), a subsidiary of publicly listed pharmaceutical company PT Kalbe Farma, is set to receive US$55 million in investment from New York-based investment firm General Atlantic (GA) to develop new drugs and expand beyond Southeast Asia.
KGBio president director Sie Djohan said on Wednesday that between 50 and 60 percent of the funds would be used to acquire new drugs, mainly for cancer immunotherapy. Another 30 percent would be used to expand a manufacturing facility in Cikarang, West Java, and the remainder would finance ongoing clinical trials.
The subsidiary focuses on producing cancer immunotherapy drugs, a rising alternative to the hair loss-inducing cancer chemotherapy method. Such drugs are classified as biological drugs as they are made from living organisms.
“The [cancer immunotherapy] market is also growing fast. The technology is there, the understanding of the immune system is there. We believe this is a very interesting area in the future,” said Sie Djohan, who is also a Kalbe Farma director, at a virtual press briefing.
Kalbe Farma, Indonesia’s largest pharmaceutical company, has identified the high-margin, high-barrier biological drugs as a key growth engine for the coming years. KGBio, a joint venture between Kalbe Farma and South Korean biotechnology firm Genexine, was established in 2016 to maximize the opportunity.
Read also: Kalbe Farma looks to digital platforms to cushion COVID-19 impact
“Biologicals are a key growth lever for the Kalbe Group,” said Kalbe Farma president director Irawaty Setiady. “We are committed to bringing global innovation to medicine and improving the accessibility and affordability of critical drugs for patients across the Southeast Asia region.”
