Lotte Biologics, ExcellGene to cooperate on contract development organization
Published: 03 Apr. 2023, 12:42
Lotte Biologics signed a memorandum of understanding with Switzerland-based ExcellGene to cooperate on the contract development organization (CDO) business.
Under the agreement, the companies' cooperation extends from developing cell lines to manufacturing the medicine.
ExcellGene will be in charge of developing the cell lines while Lotte Biologics will produce the candidates for clinical trials and commercialization.
CDOs, with their clients, develop cell lines and manufacturing processes and produce drug candidates for early-phase clinical trials. They are used by smaller bio start-ups that have the technology but don’t have the experience or capacity to develop biopharmaceuticals, which typically are long-term projects with slim chances of success.
"It's very important to increase CDO capabilities in order to grow as the global CDMO company," Lotte Biologics CEO Richard Lee said. "With the cooperation with ExcellGene, we will strengthen our competitiveness not only in CMO but also in CDO."
BY SARAH CHEA [chea.sarah@joongang.co.kr]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)