Lotte Biologics, a contract development and manufacturing organization (CDMO) corporation, announced on the 2nd that it has signed a contract manufacturing organization (CMO) agreement with a global biotech corporation based in the United States.
The scale of the contract with the client was not disclosed due to confidentiality agreements. This contract is for the order related to the clinical phase 3 and commercialization project of an innovative new drug candidate, with a contract period until 2030.
Lotte Biologics noted that it is expected to play a key role in both expanding the partner's clinical pipeline and contributing to new drug development while enhancing patient access to innovative medicines.
This marks the third successful contract for the company this year. The company stated that this order demonstrates the geographical advantages of its production base in the United States. Lotte Biologics has a biofactory in Syracuse, New York, and another factory in Songdo, Incheon, Korea, which is scheduled to start operations in 2027. The company's main strategy focuses on expanding cooperation with American pharmaceutical and biotech corporations while responding quickly and flexibly to client demands.
A company spokesperson said, "This contract is a result of firm trust in our global network and technological competitiveness," adding, "We will work closely with our partners to solidify our position as a global biotech manufacturing hub and ensure that innovative treatments are supplied to patients worldwide."