South Korean firm UNDBIO has signed a lease with West Virginia University to construct an insulin production facility in Morgantown.
In a statement released by Governor Jim Justice’s office, the $100 million investment in the first phase of the project from UNDBIO, a firm focused on providing diabetic care solutions, will create 200 jobs within three years.
UNDBIO manufactures glucose monitoring systems, monoclonal antibodies (mAbs), and insulin-based products. Moreover, the company is seeking approval for its insulin injection system, which is administered once every week.
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The firm expects its Gangwon-do, Korea plant dedicated for insulin, insulin analogs, and mAbs to be completed later this year. Its second plant is also in the same location and expected to be operational at the end of 2023, and this will be used to produce injectable drugs. The Morgantown facility marks the firm’s third plant and it is expected to be complete in 2024 and will be used for insulin and insulin analogs.
“I am thrilled to make this announcement today and to welcome UNDBIO to Almost Heaven,” Justice said.
“The addition of these good-paying jobs, with the potential for more in the future, is great news for Morgantown and for our entire state. The Morgantown area has a strong manufacturing history, and I am proud that UNDBIO will join our growing list of successful, world-leading manufacturing companies who’ve chosen the Mountain State.”
The first phase will see the facility work to secure US Food and Drug Administration (FDA) approval for its insulin product. After receiving FDA approval, the firm then plans to expand the facility, thus creating more jobs in West Virginia.
“The mission of UNDBIO is to develop and produce state-of-the-art insulin in West Virginia,” UNDBIO Chairman Caleb Jun said.
“Our products will save human lives and improve the quality of life for those afflicted with diabetes. We are excited to see West Virginia become a mecca for manufacturing highly advanced insulin to treat diabetic patients around the world.”
UNDBIO is not the first South Korean biopharmaceutical company to invest in the US. Last month, Korean drugmaker Celltrion said it is assessing building a facility in the US following the US Government’s decision to push a domestic biomanufacturing policy in the country.
In May 2022, Korean-based contract development manufacturing organization (CDMO) Lotte Corporation stepped into the US after acquiring Bristol-Myers Squibb’s (BMS) facility in East Syracuse, New York.
Additionally, in June 2020, Samsung Biologics picked San Francisco as the location for its first US facility.
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