Lotte Biologics wins 1st antibody-drug conjugate deal in Asia
Lotte Biologics, the biotech arm of Lotte Group, said on Thursday it has signed a deal with an Asia-based biotech company for the production of a clinical-stage antibody-drug conjugate (ADC) candidate
- SEOUL — Lotte Biologics, the biotech arm of Lotte Group, said on Thursday
it has signed a deal with an Asia-based biotech company for the production of a
clinical-stage antibody-drug conjugate (ADC) candidate.
-
- The contract marks the first official step toward the
full-scale operation of the company's ADC manufacturing facility at the
Syracuse Bio Campus in New York, which has been undergoing expansion since
2023, the company said in a press release.
-
- Lotte Biologics has invested US$100 million to build the
ADC manufacturing facility within its existing U.S. plant, reports Yonhap news
agency.
-
- An ADC is a targeted cancer therapy that delivers
powerful medicine directly to cancer cells.
-
- Through this deal, Lotte Biologics plans to launch its
ADC contract development and manufacturing organization (CDMO) services, aiming
to meet a wide range of client needs, from clinical development to commercial
production.
-
- "With this contract as a starting point, we will
ensure a stable supply of high-quality ADC therapeutics and strengthen our
position in the global market, not only as an antibody manufacturer, but also
as a CDMO specializing in ADCs," the company's Chief Executive Officer
(CEO) James Park said in the release.
-
- A CDMO is a company that offers end-to-end services, from
drug research and development to commercial-scale manufacturing.
-
- Lotte Biologics acquired its U.S. plant from Bristol
Myers Squibb in 2022.
-
- In addition to the U.S. facility, the company is constructing
its first domestic plant in Incheon, about 35 kilometers west of Seoul. The new
facility is expected to begin operations in 2027.
-
- With its expanding infrastructure, Lotte Biologics aims
to achieve 1.5 trillion won ($1.05 billion) in sales by 2030 and become one of
the world's top 10 CDMOs. The company reported 234.4 billion won in sales last
year, said the report.
