- ST Pharm has signed a $56 million API manufacturing contract with an undisclosed U.S.-based biotech for an oligonucleotide therapy targeting severe hypertriglyceridaemia.
- The agreement represents around 30% of the company’s most recent annual revenue and runs through December 2025.
ST Pharm has entered into a contract with an undisclosed U.S.-based biotechnology company to manufacture active pharmaceutical ingredients (APIs) for an oligonucleotide-based treatment in development for severe hypertriglyceridaemia. The agreement was disclosed in a regulatory filing released on Friday.
Under the terms of the deal, ST Pharm will receive 82.5 billion Korean won, equivalent to approximately $56 million, to produce raw materials for the oligonucleotide asset. The contract runs from 22 January to 18 December this year. The Korean CDMO stated that the contract value is equal to around 30% of its total revenue of 274 billion won reported for the 2024 fiscal year.
The agreement reflects ST Pharm’s focus on oligonucleotide production within its contract manufacturing portfolio. The company specialises in the manufacture of these RNA-based compounds, which are used as synthetic components in therapies designed to modulate gene expression.
ST Pharm has expanded its oligonucleotide manufacturing capacity in response to rising demand, including the establishment of a second production facility last year. The contract comes as the global oligonucleotide market continues to grow, driven by increasing clinical and commercial activity in RNA-based therapeutics.
