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Lotte Biologics, Merck KGaA ink partnership deal for biopharma production
Fierce Pharma June 3, 2024
South Korean CDMO Lotte Biologics and Merck KGaA have signed a partnership deal focused on expanding biopharmaceutical production and process development.
Under terms of the agreement, the two companies will work together to ensure supplies of essential raw materials, establish a stable supply chain for raw materials and create a support system for the “Bio Venture Initiative” at Lotte’s Songdo Bio campus in South Korea, they said in a May 31 press release.
Previously, Lotte revealed plans to set up the “Bio Venture Initiative” to facilitate collaboration among biopharma companies. The plan involves the operation of joint lab space plus the joining of expertise from companies of various sizes to support biopharma upstarts, Lotte said in an August 2023 press...
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