GC Biopharma's U.S. plasma centers are fully operational

With sales KRW 13.2B→KRW 9.1B→KRW 43.1B

ABO Plasma Q3 sales amounted to KRW 43.1 billion…a fourfold increase from the previous quarter

Six U.S.-based plasma centers that ABO Plasma acquired for KRW 138 billion received FDA approval

Expanding U.S. sales of Alyglo…ABO Plasma accelerates securing additional plasma centers

ABO Plasma, GC Biopharma's recently acquired U.S.

 

plasma center, is seeing rapid revenue growth, with third-quarter sales exceeding those of the first and second quarters combined.

 

The plasma centers, acquired for KRW 138 billion, has started full operations as its locations received U.S.

 

approvals, leading to expanded sales of GC's blood products in the U.S.

 

market.

 

According to the Financial Supervisory Service on November 19, ABO Plasma recorded sales of KRW 43.1 billion in the third quarter.

 

This represents a fourfold increase from the previous quarter's KRW 9.1 billion.

 

The cumulative revenue for the first three quarters totaled KRW 65.4 billion.

 

ABO Plasma is a U.S.-based plasma center that GC Biopharma acquired in January of this year.

 

Immediately following the acquisition, ABO Holdings was renamed ABO Plasma.

 

GC Biopharma decided to acquire a 100% stake in ABO Plasma for KRW 138 billion in December of last year.

 

ABO Plasma, located in California, operates plasma centers in New Jersey, Utah, and California.

 

The purpose of the acquisition was to expand the business for the blood product Alyglo and secure a stable source of raw materials.

 

Alyglo, which received U.S.

 

Food and Drug Administration (FDA) approval in December 2023, is a liquid immunoglobulin preparation refined from plasma fractionation.

 

It is used to treat primary immunodeficiency diseases, such as congenital immunodeficiency and immune thrombocytopenia.

 

Alyglo was the first blood product developed by a Korean company to enter the U.S.

 

market.

 

GC Biopharma established a system in which it uses plasma supplied by ABO Plasma to manufacture Alyglo at its Ochang plant in Korea, and sells the finished product in the U.S.

 

Previously, GC Biopharma purchased plasma from U.S.

 

plasma centers before manufacturing Alyglo at its Ochang plant.

 

ABO Plasma generated revenues of KRW 13.2 billion and KRW 9.1 billion in the first and second quarters, respectively, and then skyrocketed in the third quarter.

 

The third-quarter revenue alone was about double the revenue of the first half.

 

At the time of GC Biopharma's acquisition of ABO Plasma, three of the total six plasma centers had already received FDA approval.

 

An additional three centers received FDA approval in the second quarter.

 

U.S.

 

plasma centers can collect plasma from donors after opening, but they can only sell the plasma once they receive FDA approval.

 

Since ABO Plasma's centers received FDA approval in succession following the acquisition, plasma sales revenue has gradually expanded.

 

U.S.

 

sales of Alyglo are also gradually increasing.

 

The company explained, "Alyglo has maintained growth every quarter this year, achieving 117% sales growth compared to the same period last year." GC Biopharma proactively secured local inventory by increasing Alyglo export volume in the first half of the year to respond preemptively to changes in U.S.

 

tariff policy.

 

GC Biopharma recorded KRW 133.6 billion in blood product sales in the third quarter.

 

This is similar to the KRW 136.6 billion recorded in the same period last year, but represents a 33.7% increase compared to KRW 99.9 billion in Q3 2023.

 

GC Biopharma began full-scale sales after completing the initial shipment of Alyglo in July of last year.

 

Blood product sales recorded KRW 90.6 billion in Q2 last year, expanded by 50.8% to KRW 136.6 billion in Q3 with Alyglo's launch, and rose to KRW 161.7 billion in Q4.

 

This year, Q1 and Q2 recorded KRW 127.2 billion and KRW 152.0 billion, respectively.

 

ABO Plasma is accelerating its facility expansion.

 

On November 16, ABO Plasma opened the Laredo Plasma Center in Texas.

 

ABO Plasma plans to start recruiting plasma donors immediately upon the center's launch.

 

Collected plasma can be stored for 24 months, and the company plans to begin sales as soon as FDA authorization is complete.

 

The FDA approval process for a plasma center typically takes nine months, and ABO Plasma expects to complete approval by the first half of next year.

 

The Laredo Plasma Center was initially scheduled for completion in 2026, but expansion was accelerated to keep pace with Alyglo's growth and the domestic plasma fractionation products.

 

The Eagle Pass Plasma Center in Texas is also expected to open in 2026.

 

ABO Plasma recorded a net loss of KRW 5.7 billion in the third quarter.

 

The company's deficit slightly increased, following net losses of KRW 5.1 billion and KRW 5.5 billion in the first and second quarters, respectively.

 

The increased deficit compared to the previous quarter is attributed to higher costs associated with the early opening of the Laredo Plasma Center in Texas and to the recognition of one-time investment costs to build a foundation for mid- to long-term growth.

 

The cumulative net loss for the first three quarters is KRW 16.2 billion.

 

GC Biopharma utilized its internally established investment vehicle to acquire ABO Plasma.

 

The acquisition involved investing GC Biopharma's existing cash reserves of KRW 55.7 billion and disposing of its stake in of the private equity firm 'For Human Life Private Equity Joint Venture No.

 

1' for KRW 82.3 billion.

 

GC Biopharma Holdings and GC Biopharma jointly established For Human Life in March 2021, each investing KRW 6.4 billion.

 

For Human Life subsequently launched 'For Human Life Private Equity Joint Venture No.

 

1' after receiving an investment of KRW 67.0 billion from GC Biopharma.