JAKARTA - PT Kalbe Farma Tbk (Kalbe) through one of its subsidiaries, PT Kalbe Genexine Biologics (KGBio) announced that General Atlantic (GA), a global financial investor company from the United States will invest USD 55 million as primary capital in KGBIo.
KGBio plans to use the investment to finance clinical trials of biological products, innovation and expansion of the KGBio product portfolio as well as increasing the capacity of production facilities.
"We welcome the opportunity to work with General Atlantic, as one of the global financial investors, especially for the development of life science," said Irawati Setiady, President Commissioner of PT Kalbe Farma Tbk.
For information, KGBIo is a joint-venture company between Kalbe - the largest healthcare and pharmaceutical company in Indonesia - and Genexine South Korea - a leading clinical trial biotechnology company in South Korea. Biological medicine is an important category in drug development during the last 20 years, especially immune-oncology which is the focus of KGBio. (LM)