UNDBIO Cuts Ribbon On New US Insulin R&D Facility In Rockville

ROCKVILLE, MD — Maryland First Lady Yumi Hogan helped South Korean pharmaceutical company UNDBIO celebrate the opening of its new U.S. research and development headquarters in Rockville. The first lady took part in the Oct. 18 ribbon-cutting ceremony.

Early next year, UNDBIO will begin operations on its insulin biosimilars technology at the 25,000-square-foot laboratory facility located at Twin Labs in Rockville. The company has made a $100 million investment to start the R&D phase of its insulin production there.

“We are excited to have UNDBIO in the State of Maryland to do its life-saving work,” said Governor Larry Hogan, in a release. “I know they had several discussions with other states to conduct their path-breaking insulin initiative there, but they ultimately recognized that our Maryland assets would give them the best chance to successfully get an insulin product quickly into the marketplace. This is yet another example of Maryland being open for business with an international company choosing our state and their direct investment helping to grow our economy.”

UNDBIO Chairman Jun Yong-soo said in a release that he was looking forward to developing high-paying biotech jobs at the Rockville facility.

"There is a great need for affordable insulin in the United States, as currently 37 million people are now suffering from diabetes," he said. "In Maryland alone, 11.8 percent of the adult population have diagnosed diabetes. Every year, an estimated 42,623 people in Maryland are diagnosed with diabetes and it costs an estimated $7 billion in Maryland each year in direct and indirect medical expenses.”