Prestige Biopharma Group Accelerates Drug Development with New R&D Hub Backed by KRW 200 Billion Investment

Prestige Biopharma Group Accelerates Drug Development with New R&D Hub Backed by KRW 200 Billion Investment

Prestige Biopharma Group is accelerating its transition from biosimilars to innovative drug development with the launch of a large-scale biopharmaceutical research center in Busan.

Founded in 2015, the group has rapidly expanded its global presence by establishing research and manufacturing bases in Singapore and Osong, Korea. Within nine years, the company achieved its first biosimilar approval and is now advancing toward innovative drug development through the establishment of the Innovative Discovery Center (IDC), a major R&D hub located in Busan.

The new IDC facility represents a total investment of approximately KRW 211.9 billion and spans a gross floor area of 34,000 square meters. Construction took three years to complete. The center is positioned as one of the largest biopharmaceutical research facilities in Korea and across Asia. As the group’s R&D control tower, IDC serves as a core growth engine supporting the transition from biosimilars to innovative antibody therapeutics.

Located in the Myeongji International City district of Busan, the six-story facility includes advanced laboratory infrastructure as well as a large conference hall with seating for approximately 300 participants. The building has also been designated as an Advanced Investment Zone by the Ministry of Trade, Industry and Energy and is managed by the Busan Metropolitan Government.

The opening ceremony of IDC was attended by government officials including Busan Deputy Mayor Lee Jun-seung and representatives from the Ministry of Trade, Industry and Energy, alongside industry and institutional partners. In addition to the ceremony, an international symposium was held over two days to highlight the region’s growing pharmaceutical and biotechnology ecosystem.

According to Chairwoman Soyeon Park, the decision to establish the center in Busan reflects the company’s long-term vision to build a strong bio-cluster in the region. She emphasized that the new facility was designed to provide an environment where R&D researchers can fully realize their capabilities while accelerating innovative drug development.

Prestige Biopharma Group views the new IDC as a key milestone in its global growth strategy. The group has developed 15 biosimilar programs and 16 antibody drug candidates over the past decade. With the opening of IDC, the company plans to further accelerate its dual-track strategy of biosimilars and innovative therapeutics.

To support this expansion, the company plans to significantly increase its R&D workforce. Over the next five years, the group aims to recruit 116 additional researchers, including 95 PhD- and master’s-level scientists, effectively doubling its research capacity.

The company is also expanding its pipeline into next-generation modalities, including bispecific antibodies, novel antibody formats, and antibody-drug conjugates (ADCs). Organizational restructuring has been completed to support this strategy, with Dr. Taehung Kang appointed to lead the New Drug Development Division and Dr. Yeonsook Lee appointed to head the Technology Innovation Division.

While Prestige Biopharma Group recently achieved its first global biosimilar approval, the company views biosimilars as a stepping stone toward its ultimate goal—developing innovative biopharmaceuticals. Only a small number of Korean companies have successfully developed global biosimilars, including Celltrion, Samsung Bioepis, Dong-A ST, and Prestige Biopharma Group.

Chairwoman Soyeon Park stated during the opening ceremony, “With the completion of IDC—the final piece of our full value chain following Prestige Biopharma and Prestige Biologics—we are entering a new phase of growth. IDC will evolve into a global research hub, accelerating antibody drug development and strengthening our competitiveness as a global biopharmaceutical company.”

Source: The Bell (https://m.thebell.co.kr/m/newsview.asp?svccode=00&newskey=202411140823451580107869&page=1&sort=FREE_DTM&searchtxt=)