Celltrion will announce its plan to launch a bio contract development and manufacturing organization (CDMO) business, at the 2018 BIO International Convention held in Boston from June 5-7.

A bio CDMO refers to the commissioned development of cell lines and processes of biopharmaceuticals, as well as the production of pre-clinical, clinical and commercial products.

According to the company, the new business model is in line with Celltrion’s goal to pursue open innovation for developing new drugs.

Unlike other bio CDMO businesses, Celltrion aims to collaborate and partner with research institutes and biotech firms that possess new drug candidate molecules. The company plans to support such firms by sharing its accumulated expertise and possibly provide development costs or license out the candidate substance.

For its first project, the company is focusing on specific therapeutic areas which will have synergy with Celltrion’s existing drug portfolio - autoimmune diseases, breast cancer, lymphoma and cardiovascular diseases.

“Celltrion is meeting with potential CDMO partners at the 2018 BIO International Convention,” a company official said.