SEOUL, September 02 (AJP) - Lotte Biologics said Tuesday it had signed a manufacturing agreement with a U.S. biotechnology company to produce an experimental immunotherapy.
The deal, which runs through 2030, covers late-stage clinical trials and potential commercialization of the drug candidate, which is being tested across multiple disease indications. The name of the client company was not disclosed under confidentiality terms.
Lotte Biologics, a unit of the Lotte conglomerate, is focusing on expanding its contract development and manufacturing organization, or CDMO, business, which produces drugs on behalf of pharmaceutical companies. Its U.S. production base, the Syracuse Bio Campus in New York, is positioned as a cornerstone of that growth strategy.
The company said it plans to operate under a single quality-control system across both the Syracuse facility and its upcoming Songdo Bio Campus in South Korea, scheduled to begin operations in 2027, in order to attract more partnerships with American biotech firms.
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