PanGen Biotech

What PanGen Biotech does

PanGen Biotech Inc. (주식회사 팬젠) is a South Korean biopharmaceutical CDMO and biosimilar developer, headquartered in Suwon, Gyeonggi-do, listed on KOSDAQ since 2016, and affiliated with Huons Group since December 2024. The company operates the proprietary PANGEN CHO-TECH™ platform, which centers on Chinese Hamster Ovary (CHO) cell protein expression technology and an installed base of 41 commercializable production cell lines (28 therapeutic protein, 13 biosimilar antibody). Its commercial core is the EPO biosimilar franchise (brands Erysaa/Pangfot, available in 2000/4000/6000/10000 IU dosages), marketed as the world's second EPO biosimilar and approved in six countries (Korea, Malaysia, Philippines, Saudi Arabia, Turkey, Thailand). Complementary offerings include an Aflibercept biosimilar, a Factor VIII biosimilar (Phase 3), cell-based bioassay services, and research reagents.

PanGen operates four revenue streams: (1) direct export of EPO biosimilars to international distributors; (2) CDMO services for pharmaceutical clients using the CHO-TECH platform, with Q3 2025 order backlog of 45.7B KRW; (3) technology licensing and milestone/royalty arrangements, exemplified by the $3M VEM (Turkey) deal with a 10-year royalty tail; and (4) government and inter-company research contracts, including a 27.5B KRW SFTS neutralizing antibody award from Korea's National Institute of Health Research (2025-2028) and bioassay work for Huons' liraglutide/semaglutide GLP-1 pipeline. GTM is enterprise field sales plus bilateral licensing to regional pharma partners. Regulatory moats include MFDS GMP (valid through October 2026), Malaysia PIC/S cGMP (since 2016), Turkey TMMDA GMP (renewed 2025), and JAKIM halal certification. FY2025 revenue was 134.2 billion KRW with operating profit of 15.1 billion KRW (+47.6% YoY) on a declining top-line, reflecting margin discipline and product mix shift toward higher-value biosimilars and CDMO backlog conversion.

Name

PanGen Biotech

Legal name

주식회사 팬젠 (PanGen Biotech Inc.)

Website

https://pangen.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

PanGen Biotech (주식회사 팬젠) is a South Korean KOSDAQ-listed biopharmaceutical CDMO and biosimilar developer using its proprietary PANGEN CHO-TECH™ CHO-cell expression platform to produce EPO biosimilars (six-country footprint) and provide contract development, bioassay, and technology licensing services to pharmaceutical partners globally, including a 27.5B KRW government antibody contract.

Ownership category

akta.pro rank

Product category

Biosimilar Biopharmaceuticals & CDMO Services

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Biologics (mAbs/Recombinant Proteins) CDMO (HLAGABAC)

akta.pro secondary industries

Erythropoietin (EPO) Biosimilars (HLAIAFAC), Impurity / Reference Standard Synthesis & Characterization (HLAGAHAG)

Keywords

• Biosimilar development
• Biopharmaceutical CDMO services
• CHO cell line platform
• Cell-based bioassay services
• Therapeutic protein manufacturing

Headquarters

HQ city

Sowon

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. EPO Biosimilar Product Sales: Sales of erythropoietin (EPO) biosimilar products (Erysaa, Panpotin) for treating anemia in chronic kidney disease patients on dialysis. Products sold in 5+ countries including Malaysia, Philippines, Saudi Arabia, Turkey, and Thailand. EPO revenue grew 76% year-over-year to 60.7 billion won in Q3 2025, representing approximately 55% of total revenue.
2. CDMO Services: Contract development and manufacturing services for biopharmaceuticals using CHO cell technology. Services include production cell line development, process development, and manufacturing for therapeutic proteins and biosimilar antibodies. Q3 2025 order backlog stood at 45.7 billion won.
3. Technology Licensing: Technology transfer agreements with international partners including milestone payments and ongoing royalties. Signed $3 million EPO biosimilar technology export contract with Turkey's VEM company, with milestone payments (Phase 1: $1.5M received, Phase 2: $1.5M pending) and 10-year royalty arrangement for domestic production.
4. Research Service Contracts: Research service contracts with government institutions, including a 27.5 billion won contract with Korea's National Institute of Health Research for SFTS antibody development (2025-2028).

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

PanGen Biotech develops and manufactures biosimilar biopharmaceuticals and provides contract development and manufacturing (CDMO) services built on its proprietary PANGEN CHO-TECH CHO cell expression platform. The company sells approved erythropoietin (EPO) biosimilars (Erysaa/Pangpotin) internationally for anemia treatment in dialysis patients, offers CHO cell-based production cell lines and process development services to pharmaceutical partners, and provides cell-based bioassay services for drug potency analysis.

Product overview

PanGen Biotech is a biopharmaceutical company specializing in biosimilar development and CDMO services. The company operates a unified product portfolio centered on its proprietary PANGEN CHO-TECH platform, which provides production cell lines for biopharmaceutical manufacturing. Core products include EPO biosimilar (Erysaa/Pangfot) and Aflibercept biosimilar, while the CDMO services leverage CHO cell line technology to serve pharmaceutical partners. Additional offerings include cell-based bioassay services, research reagents/kits, and pipeline products such as Factor VIII biosimilar (Phase 3) and SFTS treatment antibody (preclinical). The company also develops biosimilars for blockbuster drugs including Yervoy, Tremfya, and Evenity.

Differentiator

Problem solved

Functional benefit

Products and services

• EPO Biosimilar (Erysaa/Pangpotin) Erythropoietin (EPO) biosimilar for treating anemia in chronic kidney disease patients on dialysis, sold in multiple strengths (2000IU, 4000IU, 6000IU, 10000IU) and approved in six countries for pharmaceutical distributors and healthcare providers.
• Aflibercept Biosimilar

Quantifiable outcome

• EPO revenue growth of 76% YoY in Q3 2025, reaching 60.7 billion won cumulative
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• HuonscoreStrategic or Co-development Partner · 1 April 2026Bioassay services partnership for liraglutide and semaglutide potency analysis. PanGen provides cell-based bioassay services to support Huons pipeline development.
• National Institute of Health Research (질병관리청 국립보건연구원)coreStrategic or Co-development Partner · 22 June 2025SFTS treatment antibody research service contract worth 27.5 billion won (2025-2028). PanGen will perform preclinical sample production system development and evaluation for SFTS neutralizing antibody development.
• VEM (Turkey)coreTechnology or Integration · 1 January 2021EPO biosimilar technology export contract signed in 2021. Total contract value of $3 million including milestone payments (Phase 1: $1.5M received, Phase 2: $1.5M pending) plus 10-year royalty arrangement. VEM will receive final drug substance (FDS) from PanGen and manufacture/sell EPO products in Turkey.
• Saudi VAXcoreChannel Partner/ Reseller/ Distributor · 1 January 2019EPO product licensing partnership established 2019 for Saudi Arabia market distribution.
• Medicamentos Naturales (Mexico)minorChannel Partner/ Reseller/ Distributor · 1 January 2016Recombinant Factor VIII marketing and commercialization partnership for Mexican market.
• ONKO (Turkey)minorChannel Partner/ Reseller/ Distributor · 1 January 2015EPO biosimilar distribution partnership established 2015.
• S. Charoen (Thailand)minorChannel Partner/ Reseller/ Distributor · 1 January 2015EPO biosimilar distribution partnership established 2015.
• CCM (Malaysia)coreChannel Partner/ Reseller/ Distributor · 1 January 2012EPO biosimilar co-investment and licensing partnership established 2012.
• Huons GroupcoreOthersPanGen became a subsidiary of Huons Group in December 2024, gaining access to group synergies and shared resources within the Huons healthcare ecosystem.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Celltrion: Korean biopharmaceutical company developing biosimilars including erythropoietin biosimilars and operating as a biologics CDMO. Direct competitor to PanGen in the Korean and international EPO biosimilar market with overlapping CHO cell-based manufacturing capabilities.
• Aprogen Biotherapeutics: Korean biosimilar developer with similar focus on biosimilars for chronic disease indications. Competes with PanGen in the domestic Korean biosimilar market and has overlapping capabilities in mammalian cell-based biopharmaceutical manufacturing.
• Dr. Reddy's Laboratories: Global generics and biosimilars company with EPO biosimilar portfolio (Epoetin alfa). Competes with PanGen in emerging market EPO biosimilar segments, particularly in Asia and select Middle East markets.

Broad incumbents

• Samsung Biologics: Korea's largest biologics CDMO offering contract development and manufacturing services using mammalian cell systems. Competes with PanGen for CDMO clients with significantly larger capacity (multi-thousand employee scale) and broader service portfolio.
• WuXi Biologics: Global biologics CDMO providing CHO-based contract development and manufacturing services. Competes with PanGen for international CDMO customers with substantially larger scale, global footprint, and integrated discovery-to-manufacturing capabilities.
• GC Pharma (Green Cross): Korean biopharmaceutical company with established biosimilars portfolio including erythropoietin products. Competes with PanGen in domestic and select international markets, with broader plasma-derived product and vaccine portfolio.
• SK Bioscience: Korean biopharmaceutical company developing vaccines and biologics with adjacent manufacturing capabilities. Part of broader SK Group ecosystem, comparable to PanGen's Huons Group affiliation, and competes for biopharmaceutical manufacturing talent in Korea.
• Lonza Biologics: Global leader in biologics CDMO offering CHO-based contract development and manufacturing services. Competes with PanGen for international pharma CDMO clients with much larger scale, broader geographic presence, and integrated end-to-end capabilities.
• Catalent (Novo Holdings): Global biologics CDMO providing mammalian cell-based contract development and manufacturing. Competes with PanGen for international CDMO contracts with broader service portfolio including fill-finish and gene therapy capabilities.
• Boehringer Ingelheim BioXcellence: Global biologics CDMO offering CHO-based contract development and manufacturing services. Competes with PanGen for international pharma CDMO contracts with substantially larger commercial-scale capacity and integrated biopharmaceutical services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/huons
• LinkedInlinkedin.com/company/pangen-biotech

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PanGen Biotech