Press Release – CHA Bio Group
Public Relations Department | Pangyo-ro 335, Bundang-gu, Seongnam-si, Gyeonggi-do
Contact: Young-Ho Lee, Deputy Manager: 031-881-7903 / 010-9148-3578
Woo-Gyun Kim, Assistant Manager: 031-881-7905 / 010-9951-9619
Mi-Young Choi, Team Manager: 031-881-7901 / 010-8732-4429
Release Date: May 10, 2024, 9am KST

CHA Bio Group and CIC Announce Intent to Establish a Cell Gene Biobank-Based
Open Innovation Center in South Korea●CHA Bio Group to create the CGB (Cell Gene Biobank) to attract and support the bio industryecosystem●CIC will support resident companies through the development of customized programmingand connections within the innovation ecosystem

CAMBRIDGE, Mass. - On May 9, CHA Bio Group and CIC signed a memorandum of understanding
to establish an open innovation center focused on research and innovation around the CGB (CellGene Biobank). At the signing ceremony, the two organizations agreed to collaborate on creating abiotech-focused innovation ecosystem by attracting and supporting biotech ventures and relatedcompanies to the CGB, which is being built by CHA Bio Group in Pangyo 2nd Techno Valley.
Following the agreement, CHA Bio Group plans to attract high-potential biotech ventures from both
domestic and international R&D centers to the CGB, providing an environment conducive to attracting
investment. The combination of biotech ventures' capabilities and CHA Bio Group’s“industry-academia-hospital-research ecosystem” will enhance mutual growth through openinnovation. CIC will support the investment, attraction, and development of customized programs for
its resident companies, providing top-tier consulting to build and activate the innovation ecosystem.
Justin Oh, CEO of CHA Biotech, stated, "CIC has the experience and expertise in attracting global
pharmaceutical companies, major universities, and venture capitals to form a bio cluster and achieve
technological innovation in various fields. Together with CIC, CHA Bio Group aims to accelerate theglobalization of Korea’s biotech industry by attracting innovative companies."
Tim Rowe, CEO of CIC, added, "Pangyo Technovalley is an important hub of the Korean biotech
industry, concentrated with excellent talent and technology. We aim to create a leading global biotech
cluster by attracting pharmaceutical and biotech companies, as well as R&D centers and venture
capitals, to CHA Bio Group’s CGB, similar to the powerful clusters we helped create in Boston andPhiladelphia. By bringing together researchers and capital, and providing the infrastructure andfacilities required, we can help catalyze innovation in the field."
The CGB, with a total floor area of 66,115 square meters across 10 floors above ground and 4 below,
is set to be the world's largest facility dedicated to cell and gene manufacturing. It is scheduled forcompletion in December 2025. CGB will house CDMO production facilities, cGMP manufacturing
facilities, and a stem cell biobank. The excellent urban accessibility of Pangyo Technovalley makes it
an ideal location for establishing an Open Innovation Center.
Companies residing in the CGB will have access to all the infrastructure and capabilities of CHA BioGroup, including Matica Biotechnology’s specialized cell and gene therapy CDMO services covering
global regions including the USA and Japan, SeoulCRO's clinical trial services, and CHA
Comprehensive Research Institute’s basic research, animal testing, and analytical services. They will
also freely use the facilities and network of CIC's Innovation Campuses in 10 cities worldwide,including locations in the US, Europe, and Japan.
CIC is a global leader in building and operating innovation communities. Founded in 1999 inCambridge, MA, CIC is one of the first companies to offer flexible office and lab space, providing aplatform for the world’s most impactful entrepreneurs to innovate better and faster. In 2013, CIC’s

CEO and founder Tim Rowe co-founded and became Chairman of LabCentral, the nation’s premiershared wet-lab facility in Kendall Square, which served as the basis for CIC’s shared lab model today.
About CIC:
CIC builds and operates a global network of innovation campuses where startups, scale-ups,
corporations and public entities connect, work, and grow. Founded in 1999, CIC manages 125.000
square meters of innovation-focused workspace, laboratories, and event space across North America,
Europe and Asia. Additionally, CIC develops bespoke programming, builds and enables industry
clusters, and provides world-class district consulting—all focused on advancing innovation.
Learn more about CIC’s innovation campuses featuring workspace & labs, programming, and eventsat CIC.com. Follow along on LinkedIn, Instagram, and Facebook.