CG Bio establishes US corporation to develop tissue products

South Korean bio-regenerative medical firm CG Bio has launched a new US corporation CG MedTech, to focus on the development and marketing of tissue products in North America, according to the company on Tuesday.

CG MedTech, which is fully owned by CG Bio, is headquartered in the state of Maryland, where the US Food and Drug Administration (FDA) is based. The company's research and production organization and sales and marketing organization are established in North Carolina and California, respectively. The subsidiary aims to prioritize the development of pre-market strategies and clinical trials and approvals.

CG Bio has also partnered with Wake Forest Institute for Regenerative Medicine (WFIRM) of Wake Forest University in North Carolina to develop 3D printing-based patient-specific solutions. CG MedTech has already received certification from the American Association of Tissue Banks, allowing the sale of human tissue skin products and bone products in the US market.

"CG MedTech will enable the company to expand its business in the North American market by developing products tailored to the needs of local customers," said CG Bio CEO Yoo Hyun-seung.

Write to Min-Su Han at hms@hankyung.com