Per Governor Hogan: The governor highlighted the announcement that UNDBIO—a Korean pharmaceutical company with unique proprietary insulin production technology—has leased 25,000 square feet of laboratory space in Rockville and committed $100 million for the research and development and preliminary production of insulin. The company has signed a lease with Twinlabs—a Rockville life science real estate company—to develop a state-of-the-art lab where scientists will produce insulin samples that will require U.S. FDA approval, and eventually enter the U.S. and global markets.
“Maryland is proud to be home to hundreds of life sciences companies that set the bar for biotechnology innovation and fuel our region’s innovative economy, and we are excited to welcome the life-saving work of UNDBIO to Rockville,” said Governor Hogan. “This is yet another shining example that Maryland is open for business and further evidence of our state’s special bond with the Republic of Korea.”
“I am happy to establish our relationship with the State of Maryland to undertake the research and development required to produce affordable insulin and insulin analogues for the diabetic population around the globe,” said UNDBIO’s Chairman Jun Yong-soo. “We look forward to developing high paying biotech jobs for Maryland, and would welcome other partners into our global insulin project.”