Lotte Biologics·SK Pharmteco jointly target global ADC mkt

“Will collaborate to provide ADC-specialized CDMO one-stop service and co-marketing”

Letter of Intent signing ceremony between Lotte Biologics and SK Pharmteco (Source: Lotte Biologics)

Lotte Biologics (CEO James Park) and SK Pharmteco (CEO Joerg Ahlgrimm) announced on the 30th that they have signed a Letter of Intent (LOI) for strategic business collaboration to strengthen their competitiveness in the global Antibody-Drug Conjugate (ADC) market.

 

The signing ceremony took place at the Lotte Biologics booth at ‘CPHI Worldwide 2025’, the world's largest pharmaceutical and biotech industry held in Frankfurt, Germany.

 

Executives from both companies, including James Park, CEO of Lotte Biologics; Yoo-Yeol Shin, Head of Global Strategy; Joerg Ahlgrimm, CEO of SK Pharmteco; and Andrew Penny, CCO.

 

Through the collaboration, the two companies plan to jointly provide an integrated, one-stop CDMO service based on various ADC-specialized solutions to potential customers in the global market.

 

Lotte Biologics will leverage its cGMP manufacturing capabilities and global quality competitiveness at the Syracuse Bio Campus in the U.S.

 

to provide ADC-specific CDMO services from API manufacturing to conjugation.

 

SK Pharmteco will be responsible for the chemical synthesis processes, including linkers and payloads.

 

By optimizing and combining each company’s respective expertise, the companies aim to establish a full-cycle CDMO system, deliver customized integrated services, expand order intake through joint marketing, and secure global clients through joint marketing.

 

Furthermore, they aim to address the clients’ overall chemical, manufacturing, and control (CMC) requirements and present an integrated technology and operational platform that minimizes gaps between development and manufacturing.

 

Lotte Biologics expects to provide differentiated value to customers based on its credibility and quality competitiveness as a global bio CDMO.

 

This is underpinned by its antibody conjugation production infrastructure at its Syracuse, USA facility, global client service experience, and track record of flawless FDA inspections.

 

Lotte Biologics further explained that this agreement, leveraging the synergies of the production infrastructures in the U.S.

 

and Europe, will also enable a strategic response to the ongoing US-driven supply chain restructuring and rising bio-reshoring demands.

 

James Park, CEO of Lotte Biologics, said, “This collaboration represents a significant achievement as the pharmaceutical-biotech affiliates of Korea's leading companies join forces on the global stage for the first time.

 

We will strive to secure a competitive advantage in next-generation modalities such as ADCs and demonstrate the potential of K-Bio on the global stage.” Joerg Ahlgrimm, CEO of SK Pharmteco, said, “This strategic partnership will accelerate the development of next-generation therapy, enabling both companies to deliver greater value and bring innovative new drugs to patients around the world faster.”