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Teaneck, NJ– GC Biopharma announced through a public disclosure on Dec. 11 that it would acquire the entire stake in ABO Holdings, a move set to significantly enhance its blood products business in the United States. This strategic acquisition is aimed at securing a stable supply of raw materials for the expansion of its blood product business.

ABO Holdings, based in California, operates six blood banks across three states: New Jersey, Utah, and California. Additionally, two more blood banks are under construction in Texas, with a total of eight blood banks expected to be operational by 2026 upon completion. This acquisition will allow GC Biopharma to complete vertical integration from securing raw materials for plasma fractionation to production and sales.

A representative from GC Biopharma stated, "With this acquisition of the blood banks, we have completed vertical integration from securing raw materials for plasma fractionation to production and sales." The representative added, "We will use the acquisition as a stepping stone for a quantum leap to become a global top-tier blood product company."

GC Biopharma, a South Korean biopharmaceutical company, is known for its work in blood products, vaccines, and other biopharmaceuticals. The acquisition of ABO Holdings aligns with its strategy to expand its market presence and enhance its capabilities in the global pharmaceutical industry. By owning the supply chain from raw materials to finished products, GC Biopharma aims to increase efficiency, reduce costs, and ensure better control over product quality.

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About GC Biopharma Corp.

GC Biopharma Corp. (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma Corp. is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.

This press release may contain biopharmaceuticals in forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.

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