Seoul: Lotte Biologics Co., the biotech division of Lotte Group, announced it has entered into a contract with a U.S.-based oncology biotech company to produce antibody drug substances. This collaboration signifies a significant step forward for Lotte Biologics in the field of large-scale global projects.

According to Yonhap News Agency, the company has forged a contract development and manufacturing organization (CDMO) agreement with the unnamed U.S. firm, which is already at a commercial stage. This agreement encompasses the production and process development of antibody drug substances, indicating a crucial development in the biotechnology sector.

Under the terms of the contract, Lotte Biologics is set to manufacture antibody drug substances for late-stage clinical trials. The agreement also includes process optimization at a scale ready for commercial production. The Syracuse Bio Campus in New York will be the primary site for this work, reinforcing its role as a pivotal center for collaborations with late-stage clients.

"This contract marks an important step in building a foundation for large-scale global projects," a company official stated, highlighting the strategic importance of the agreement for Lotte Biologics' expansion and collaboration efforts.