Green Cross Biotherapeutics inaugurates its state-of-the-art facility in Montreal

PDF version of the press release.

Montreal, Québec (October 30, 2017)—Green Cross Biotherapeutics Inc. (GCBT), a Montreal-based biopharmaceutical company and proud member of the Canadian and Québec Life Sciences community, inaugurates today its state-of-the-art bio-manufacturing facility in Technoparc Montreal, and its North American Headquarters. GCBT is also to become the only Canadian manufacturing facility of plasma-derivative products, intravenous immunoglobulin (IVIG) and albumin. The availability of these two strategic biopharmaceutical products in Québec and Canada is currently entirely dependent on imports.

The inauguration took place during a ribbon-cutting ceremony in the presence of Dr Il Sup Huh, Chairman and CEO, Green Cross, Young Ho Kim, CEO, Green Cross Biotherapeutics, Jin Hur, General Consul, Republic of Korea, Dominique Anglade, Québec Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Gaétan Barrette, Québec Minister of Health and Social Services, Jean-Marc Fournier, Québec Minister responsible for Canadian Relations and the Canadian Francophonie and MNA for Saint-Laurent, Emmanuella Lambropoulos, MP for Saint-Laurent, Denis Coderre, Mayor of Montreal, and Alan DeSousa, Borough Mayor of Saint-Laurent.

This $400 million investment, with the financial support of the Gouvernement du Québec and the strategic assistance of Investissement Québec, brings new biopharmaceutical technology, and creates more than 200 highly qualified jobs. Also, after investing an initial amount of $25 million in 2014, the Gouvernement du Québec is adding today an additional loan of $5 million through the ESSOR program at Investissement Québec.

Most importantly, GCBTs commitment represents the largest investment in the Québec and Canadian biopharmaceutical industry for the past decade. The plant features a unique service of plasma fractionation, and will support healthcare in Canada by improving self-sufficiency and the security of its plasma protein product supply.

“We chose Montreal for its thriving life sciences sector, international-caliber research, innovative drive, and highly skilled workforce. Also, the availability of intravenous immunoglobulin and albumin in the Québec and Canadian market is currently entirely dependent on imports, which underlines the strategic importance of our presence here. GCBTs inauguration marks the beginning of a new chapter in Québec and Canada’s biopharmaceutical history, moving towards a truly self-sufficient Canada for plasma-derivative products” said Joon Hee Han, Managing Director of GCBT.

The 225,000-square-foot facility will initially be capable of processing 1,000,000 litres of plasma per year, which can satisfy more than 50% of the demand in Canada. Designs have allocated space within the facility to allow for an expansion to increase the processing capacity up to 2,000,000 litres without structural renovations. GCBT also has a long-term supply agreement with Hema Quebec for fractionation services and supply of plasma protein products.

GCBT is continuing its clinical trial process in order to begin commercialization in 2020.

About Green Cross Biotherapeutics

Established in 2014, Green Cross Biotherapeutics is a Montréal-based biopharmaceutical company and member of the Green Cross family. GCBT is committed to producing high-quality, safe and effective products to save lives and improve the quality of life for people with rare and serious medical conditions.

As part of the $400 million expansion of its North American head office in Montréal, GCBT’s new state-of-the-art facility will produce plasma products such as IVIG and albumin, and serve as the cornerstone of the company’s global development strategy. With commercial production planned for 2020, GCBT will become Canada’s only IVIG & albumin manufacturer, marking a new chapter in the history of the Canadian biopharmaceutical industry.