Lotte Biologics and Merck Partner for Biopharmaceutical Manufacturing

• Lotte Biologics and Merck have signed a Letter of Intent for collaboration in biopharmaceutical manufacturing and process development.

• The partnership aims to enhance supply chains, provide essential raw materials, and support development initiatives at the Songdo Bio Campus.

Lotte Biologics and Merck have entered a strategic partnership, formalised through a Letter of Intent (LOI) signed on June 14, 2024. The agreement focuses on biopharmaceutical manufacturing and process development.

The signing ceremony featured key executives, including Richard Lee, CEO of Lotte Biologics, and Sebastian Arana, executive vice president of Merck. This collaboration will involve supplying essential raw materials, establishing a reliable supply chain, and supporting the ‘Bio Venture Initiative’ at the Songdo Bio Campus.

This partnership builds on a Memorandum of Understanding (MOU) signed in 2022 between Lotte Biologics and Merck Millipore Sigma. The MOU aimed to expand the Syracuse Bio Campus and enhance manufacturing solutions and workforce training in the U.S. The ongoing collaboration aims to establish a biopharmaceutical production base meeting global regulatory standards, thereby fulfilling customer requirements.

Merck has recently committed over €300 million to a new bioprocessing production center in Daejeon, South Korea. This new site marks Merck’s largest investment in the Asia-Pacific region to date.

Richard Lee stated, “This collaboration with Merck is significant as it represents a win-win strategy that will help South Korea become a global leader in biopharmaceuticals beyond Songdo and Daejeon. We will strive to make Lotte Biologics a key player in the global CDMO market through this active partnership with Merck.”

Sebastian Arana added, “With decades of presence in this fast-growing region, we are committed to driving scientific progress that impacts life and health. We are proud of the impact we are creating in South Korea and look forward to strengthening our collaboration with Lotte Biologics.”

Lotte Biologics commenced construction of Bio Plant 1 in Songdo, Incheon, last March. The goal is to obtain GMP approval by the second half of 2026 and begin operations in 2027.