Lotte Biologics Signs LOI with SK Pharmteco to Target ADC Market

Providing One-Stop CDMO Services Specialized in ADCs

Lotte Biologics and SK Pharmteco announced on the 30th that they have signed a strategic letter of intent (LOI) for business cooperation to target the global antibody-drug conjugate (ADC) market.

From the 28th to the 30th, at the "CPHI Worldwide 2025" event held in Frankfurt, Germany, the executives of Lotte Biologics and SK Pharmteco signed a Letter of Intent (LOI) for strategic business cooperation to target the global antibody-drug conjugate (ADC) market and took a commemorative photo. Lotte Biologics

The signing ceremony took place at the booth of the "CPHI Worldwide 2025" pharmaceutical and bio industry exhibition held in Frankfurt, Germany, and was attended by James Park, CEO of Lotte Biologics, Shin Yooyeol, Head of Global Strategy, Yoke Algrim, CEO of SK Pharmteco, Andy Penny, Chief Operating Officer (COO), and other executives from both companies.

Through this partnership, the two companies plan to jointly offer a comprehensive contract development and manufacturing organization (CDMO) one-stop service based on a variety of ADC-specialized solutions to potential customers in the global market. Lotte Biologics will provide CDMO services specialized in the main ADC processes, from active pharmaceutical ingredient (API) manufacturing to conjugation, leveraging its current good manufacturing practice (cGMP) capabilities and global quality competitiveness at its Syracuse Bio Campus in the United States. SK Pharmteco will be responsible for chemical synthesis processes, including linkers and payloads.

By optimizing and combining their respective expertise, the two companies aim to establish a full-cycle CDMO system to provide customized integrated services for clients. They also plan to expand orders and secure global customers through joint marketing. In addition, they intend to offer an integrated technology and operations platform that addresses customers' overall chemistry, manufacturing, and controls (CMC) requirements and minimizes gaps between development and manufacturing.

In particular, Lotte Biologics expects to deliver differentiated value to clients as a global bio CDMO, based on the antibody conjugation production infrastructure at its Syracuse facility, experience serving global customers, and a proven track record with flawless inspections by the U.S. Food and Drug Administration (FDA), thereby strengthening its reliability and quality competitiveness.

James Park, CEO of Lotte Biologics, stated, "This collaboration is a meaningful achievement, as it marks the first partnership between pharmaceutical and bio affiliates of leading Korean companies on the global stage. We will do our utmost to secure a competitive edge in the advanced modality therapeutics market, such as ADCs, and to demonstrate the strength of K-bio on the global stage."

Yoke Algrim, CEO of SK Pharmteco, commented, "This strategic partnership will accelerate the development of next-generation therapeutics, enable both companies to deliver much greater value, and help bring innovative new drugs to patients worldwide more quickly."

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