Lotte Biologics Partners with Merck for Manufacturing and Process Development

Lotte Biologics announced on the 31st that it has signed a Letter of Intent (LOI) for business cooperation with Merck Process Solutions for strategic partnership in biopharmaceutical manufacturing and process development. The signing ceremony was attended by key executives including Lotte Biologics CEO Wonjik Lee and Merck Vice President Sebastian Arana.

Lee Won-jik, CEO of Lotte Biologics, and Sebastian Arana, Vice President of Merck, are posing for a commemorative photo at the signing ceremony of the business cooperation memorandum.
[Photo by Lotte Biologics]

Through this agreement, both companies plan to actively collaborate on ▲ supply of raw materials and solutions ▲ establishment of raw material supply chain systems ▲ building support systems to create a ‘Bio Venture Initiative’ within the Songdo Bio Campus.

In 2022, Lotte Biologics signed a business agreement with MilliporeSigma, another Merck affiliate, regarding factory expansion at the Syracuse Bio Campus in the U.S., manufacturing solutions, and talent training, and last year signed a Letter of Intent for business cooperation. Through this collaboration, the company aims to establish a biopharmaceutical production base that meets the quality standards required by global regulatory agencies.

CEO Wonjik Lee said, "This cooperation with Merck is a meaningful example of a win-win strategy for Korea to become a powerhouse in biopharmaceuticals. We will strive to make Lotte Biologics a leading player in Contract Development and Manufacturing Organization (CDMO) with global standards through active partnership with Merck."

Vice President Arana said, "Merck has led scientific progress in the Asia-Pacific region over the past several years. We hope to strengthen our cooperation with Lotte Biologics to continue having a positive impact in Korea as well."

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