SEOUL, South Korea, July 22, 2022 /PRNewswire/ -- Biogénesis Bagó, an international biotechnology company focused on animal health and global leader in Foot and Mouth Disease (FMD) vaccines, announced its consortium with the South Korean company FVC for the construction of a world class site that will produce up to 100 million doses of FMD vaccine per year.
The new manufacturing site will be located in the Korean town of Osong, 110 km from the capital Seoul and is under construction, expected to be completed by 2023. The project will require an investment of around 50 million dollars and is being coordinated by a high-skilled task force of Biogénesis Bagó´s professionals with previous experience in leading tech transfer process in Asia.
The strategic partnership will provide South Korea with advanced technologies that will allow it to supply their internal market with safe, world-class FMD vaccines, creating more affordable solutions for local livestock producers and helping to protect the country's sanitary status while collaborating with local health authority Animal and Plant Quarantine Agency (APQA) through research and development.
"This agreement reinforces Biogénesis Bagó's position as a global leader in animal health and our status as a scientific reference with full capabilities to make significant contributions to the fight against Foot and Mouth disease and to securing food safety around the world," said Esteban Turic, CEO of the company.
Biogénesis Bagó is an international company with long history in animal health, reaching more than 40 countries and has been providing FMD vaccines to the South Korean market since 2016.
The company has a history and experience in technology transfer and professional training for FMD vaccine production. It successfully carried out a similar project in China and more recently, in 2021, Biogénesis Bagó signed an agreement with MAS, a leader in veterinary services in the Saudi market, for the construction of a FMD vaccine manufacturing site in Saudi Arabia, that aims to become the first Arab country free of foot-and-mouth disease and strengthen its food security. This new site in Saudi Arabia will require investments of $100 million.
This new milestone is aligned with Biogénesis Bagó's global expansion strategy that aims towards bringing its products and services to new markets, collaborating with countries through technological solutions that allow them to maintain their sanitary status.
SOURCE Biogénesis Bagó