Lotte Biologics CEO Declares ‘Just Getting Started’ with Strategic US & Korea Biologics Manufacturing Plants Now Fully Operational
SAN DIEGO – Lotte Biologics is poised for significant growth, focusing on securing new orders and expanding its global footprint in biopharmaceutical manufacturing. This strategic push follows the successful completion and operational approval of Plant 1 at its state-of-the-art Songdo Bio Campus in Incheon, Korea.
“Lotte Biologics has firmly established a robust dual-site production system, strategically located in both the United States and Korea,” announced James Park, CEO of Lotte Biologics, during a pivotal press conference held at the BIO International Convention in San Diego on Tuesday.
“Leveraging the advanced capabilities of our Songdo Bio Campus’ Plant 1 alongside our established Syracuse Bio Campus, Lotte Biologics now offers top-tier contract development and manufacturing organization (CDMO) capacity, competitive with leading global players in the biomanufacturing market.”
Remarkably, the construction of Lotte Biologics’ Songdo Plant 1 was finalized in just two years, six months ahead of its original 2024 groundbreaking schedule. This cutting-edge facility boasts a substantial 120,000-liter total capacity, equipped with eight 15,000-liter bioreactors designed to meet high-demand, large-scale commercial production requirements for biologics.
“This expedited completion signifies more than just quick construction; it demonstrates our rapid readiness to welcome and serve our clients,” Park emphasized. “It’s both a significant achievement and a powerful new beginning for Lotte Biologics as a leading CDMO partner.”
According to CEO Park, Lotte Biologics plans to initiate pilot operations and comprehensive production tests in the latter half of this year, aiming to secure its critical Good Manufacturing Practice (GMP) certification by year-end, ensuring the highest quality standards.
Park further detailed the complementary roles of the company’s two key sites: the Syracuse Bio Campus will primarily support early-stage development projects for clients, while the newly commissioned Songdo Plant 1 is designated as the primary base for large-scale commercial biomanufacturing. This dual-site strategy ensures Lotte Biologics can effectively address a diverse spectrum of customer needs, offering end-to-end CDMO solutions.
The Korean CDMO strategically acquired the Syracuse site from Bristol Myers Squibb in 2023 for $160 million. Since then, the company has invested approximately $100 million to develop cutting-edge antibody-drug conjugate (ADC) production and conjugation infrastructure at the New York facility, which offers a 40,000-liter manufacturing capacity.
“We are proud to have announced four new orders this year alone,” the CEO stated. “This strong uptake reflects the profound trust global clients place in Lotte Biologics’ unwavering commitment to quality and exceptional production capacity. We anticipate the synergy generated by our comprehensive dual-site strategy will only intensify. This, truly, marks the exciting beginning for Lotte Biologics’ journey as a dominant global CDMO partner.”
hwkan
