Korean CDMO firm signs letter of intent with US-based multinational biotech at Bio Japan 2025
YOKOHAMA, Japan — Lotte Biologics reiterated the advantage of operating manufacturing sites in both Korea and the United States at Bio Japan 2025 on Friday, as the Korean contract development and manufacturing organization (CDMO) seeks to expand partnerships with Japan’s leading biopharmaceutical companies.
“Our participation (at Bio Japan 2025) shows that we have transformed into a global, top-tier CDMO that can cover both map and antibody-drug conjugate platforms based on dual hubs and the two pillars of the US Syracuse site and Korea’s Songdo site,” said Lotte Biologics CEO James Park in a meeting with reporters, held on the sidelines of Bio Japan 2025 in Yokohama.
Park said the company’s goal goes beyond securing new contracts, emphasizing the “aim to build long-term, trust-based partnerships with Japanese pharmaceutical companies that are globally recognized for innovation and quality.”
While US President Donald Trump’s plan to impose a 100 percent tariff on drug imports starting Oct. 1 has rattled global pharmaceutical firms, Lotte Biologics’ CEO said the company is well-positioned thanks to its existing manufacturing base in the US.
Founded in 2022 as part of Lotte Group’s push into biopharmaceutical manufacturing, Lotte Biologics completed the $160 million acquisition of Bristol Myers Squibb’s plant in Syracuse, New York, in January 2023. It has since invested about $100 million to add antibody-drug conjugate, or ADC, production capacity.
The company is also building its first Korean plant in Songdo, Incheon, set to begin operations in 2027, with plans to construct two more by 2030.
Park said collaboration with Japanese drugmakers carries both strategic and symbolic weight for Lotte, which traces its corporate origins to Japan.
“We believe Japanese firms are more advanced in the ADC sector than US companies,” said Park. “With the support from Lotte Holdings, we are conducting numerous meetings with top Japanese pharmaceutical companies. It’s important to win orders, but earning trust is also crucial as it is difficult to secure contracts with one shot in the Japanese culture.”
According to Lotte Biologics, the company conducted dozens of meetings during the three-day event with over 400 people visiting the company's exhibition, which was double the size of its booth at last year’s event.
Lotte Biologics also announced that it has signed a letter of intent with a US-based multinational biotech company for a long-term strategic partnership at Bio Japan 2025.
Meanwhile, Lotte Group Chair Shin Dong-bin, along with his son Shin Yoo-yeol, who doubles as vice president of Lotte Corporation and head of global strategy at Lotte Biologics, and Park visited the Syracuse plant on Sunday.
The Lotte Group leader believes the Syracuse plant will serve as a new growth engine for not only Lotte Biologics but also the entire conglomerate, and called for the need to secure more contracts and orders to boost its global competitiveness.
hwkan@heraldcorp.com
![[Exclusive] Ateez to return in November](https://wimg.heraldcorp.com/news/cms/2026/09/02/news-p.v1.20260902.76162fb0ba55493aad1c076f240d0750_R.jpg?type=h&h=120)