Lotte Biologics Signs CDMO Deal for Anticancer Drug Production

MT Newswires Live04-02

Lotte Corp. (KRX:004990) unit Lotte Biologics has signed a contract development and manufacturing organization (CDMO) agreement with a U.S. biotech firm to produce antibody-based cancer treatments, according to a Wednesday company release.

Lotte Corp. shares were down nearly 5% in recent trade.

Under the agreement, Lotte will handle process development and the production of drug substances required for late-stage clinical trials, along with the optimization of large-scale processes.

The work will be centered at Lotte Biologics' Syracuse Bio Campus in New York, the release said.

The company said the deal lays the groundwork for bigger orders.

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