01 November 2022 | News
Helping domestic biotech companies achieve successful overseas business and seeking future growth partners
South Korea-based startup Lotte Biologics has signed a memorandum of understanding (MoU) with Huons Global for clinical and commercial manufacturing of biologics. Under this agreement, Lotte Biologics will supply clinical and commercial biological drug substance for overseas business of biopharmaceuticals under research and development by Huons Group.
Lotte Biologics, which was launched in June of this year, plans to complete the acquisition of a biologics manufacturing plant from a global pharmaceutical company, Bristol Myers Squibb (BMS), located in Syracuse, New York, USA.
The plant has been approved for GMP (Good Manufacturing Practice) in more than 62 countries and can provide services for production and quality processes such as scale-up, process development, biopharmaceutical raw solution production, and analytical tests. This site will manufacture clinical and commercial antibodies and recombinant drug substance developed by the Huons Group. It will also cooperate in manufacturing of drug products at Huons Global's FDA-approved plant for Huons’ drug substance manufactured by Lotte Biologics.