The United States global financial investor company, General Atlantic (GA), will invest in Kalbe Farma's unit, Kalbe Genexine Biologics (KGBio), for US$ 55 million or the equivalent of Rp774,730 billion as core capital.

"GA investment funds will be used by KGBio to finance clinical trials of biological products, innovation, and expansion of the KGBio product portfolio as well as increasing the capacity of production facilities," said President Commissioner of PT Kalbe Farma Tbk (KLBF), Irawati Setiady in a press release, on Wednesday (27 / 1).

He added that Biological medicine is one of the drivers of Kalbe's growth. KGBio, as an R&D based company, provides innovative biological and immunology products and biosimilar products that provide the best medical therapy solutions.

Managing Director and Head of India & SouthEast Asia at General Atlantic, Sandeep Naik, added that through the momentum of this collaboration, GA believes KGBio is in the right position to become the leading biological products company Asia-Pacific region as the company grows.

"We admire KGBio's vision of bringing affordable, high-quality biological products to Southeast Asia and look forward to working with Kalbe Farma and Genexine to advance this mission," said Sandeep.

Dr. Sung Young-Chul, CEO of Genexine, who is also the commissioner of KGBio said Genexine shares a vision with Kalbe to create a leading biotechnology platform for the Southeast Asia region.

Meanwhile, Sie Djohan, Director of Kalbe Farma and President Director of KGBio, said that as an innovative biologic drug development company, KGBio opens opportunities to find partners to accelerate KGBio's business expansion and growth.

"Having partnered with top investors like General Atlantic makes us confident that KGBio will gain KGBIO's access and exposure to international expertise, networking, and investment, which will accelerate our efforts to take KGBio to the next level," Djohan explained.

KGBIo is a joint venture between Kalbe Farma- the largest healthcare and pharmaceutical company in Indonesia - and Genexine South Korea - a leading clinical trial biotechnology company in South Korea. KGBio has the vision to become a leader and play an important role in developing biological and biosimilar drugs in Southeast Asia.