Lotte Bio Invests in Pinobio Shares... "Collaboration on ADC Development and Production"

Building a Bio Venture Initiative

Lotte Biologics announced on the 21st that it has made an equity investment in Pinobio, a company specializing in the development of antibody-drug conjugate (ADC) platforms.

A bird's-eye view of Lotte Biologics' 'Lotte Bio Campus' [Photo by Lotte Biologics]

Through this equity investment, the two companies plan to establish a strategic business partnership to strengthen synergies in ADC platform technology development and production cooperation. Lotte Biologics will secure the status of preferred supplier for antibodies and ADC production in Pinobio’s ADC pipeline and explore the possibility of a contract development organization (CDO) service partnership for ADCs.

The company explained that this equity investment marks the starting point for Lotte Biologics’ establishment of a 'Bio Venture Initiative' aimed at contributing to the growth of the domestic pharmaceutical and bio industry. Lotte Biologics has previously announced plans to create a Bio Venture Initiative that provides facilities for bio venture companies within a domestic mega plant complex and offers a platform for technology development collaboration. The goal is to activate a virtuous cycle within the industrial ecosystem through co-growth with domestic bio ventures.

Lee Won-jik, CEO of Lotte Biologics, said, "We are pleased to cooperate with Pinobio, which has excellent capabilities in the ADC field, and through this, we will accelerate the expansion of Lotte Biologics’ contract development and manufacturing organization (CDMO) business for ADCs. Going forward, we will continue to expand open innovation to coexist sustainably with promising bio ventures alongside developing our own capabilities."

Lotte Biologics plans to invest a total of $3 billion (approximately 3 trillion KRW) by 2030 to establish three mega plants in Korea with a total antibody drug production capacity of 360,000 liters.

This content was produced with the assistance of AI translation services.