ST Pharm, a specialized contract development and manufacturing organization (CDMO) subsidiary of Dong-A Socio Holdings, said on the 16th that it signed a contract to supply active pharmaceutical ingredients (APIs) for oligonucleotide therapeutics worth 89.7 billion won with a Europe-based pharmaceutical company. The deal is the largest ever for a single oligonucleotide raw material contract.
The API is already used to produce a therapy that has been commercialized in the global market. The client and product name were not disclosed under a confidentiality clause. The delivery period runs from this year through the end of 2027.
The size of the contract is about 32.8% of last year's revenue of 273.7 billion won.
ST Pharm, which posted strong results last year, has continued to secure orders since the start of this year, expanding its order backlog. The current oligonucleotide order backlog is about 356 billion won, and the total order backlog is about 463.5 billion won.
With demand for oligonucleotide therapeutics rising rapidly in the global market, ST Pharm began operating the "second oligo building" last year, securing production capacity among the largest in Asia.
It is also strengthening its CDMO capabilities to meet diverse client needs based on its production capacity; quality control (QC); integrated services; and experience complying with good manufacturing practice (GMP) standards across the entire product life cycle.
A company official said, "The experience of carrying out projects from early clinical quantities through commercial production is ST Pharm's competitive edge that is difficult to build in a short period," adding, "We will expand collaboration with global clients based on the experience and know-how accumulated in the global market."