LOTTE BIOLOGICS Appoints James Park as New CEO

■ An expert in strategy and business development who has worked at leading global pharmaceutical companies

■ Strengthening global CDMO business capabilities and diversifying business networks

LOTTE BIOLOGICS announced on December 2nd that it has appointed James Park (58), former CEO of GC Cell, as its new CEO.

James Park earned a bachelor's degree in chemical engineering from the University of California, Davis, and a master's degree in industrial engineering from Columbia University. He has worked at global pharmaceutical companies such as Merck and Bristol-Myers Squibb (BMS), served as Vice President and Head of the Global Sales Center at Samsung Biologics, and until recently was the CEO of GC Cell, a company specializing in cell and gene therapy (CGT).

Notably, during his tenure at BMS, he participated in due diligence in the field of pharmaceutical process development and quality control (Chemistry, Manufacturing and Controls; CMC) from preclinical stages to commercialization, overseeing business development including licensing in/out and mergers and acquisitions. At Samsung Biologics, he successfully secured contract orders with various global companies. Recently, he led the technology transfer agreement for GC Cell's main product, the autologous anticancer immune cell therapy "Immuncell-LC Injection," accelerating global expansion.

A company representative stated, "Through the appointment of James Park as the new CEO, we expect to lay the groundwork for a turnaround to target the global market and simultaneously establish a bridge that will smoothly connect our employees in Korea and the United States." They added, "The new CEO is the right person at this time, possessing expertise in overall management and exceptional leadership in securing global orders."

James Park, is scheduled to be officially appointed as the new CEO after an upcoming extraordinary general meeting of shareholders and a board meeting.

LOTTE BIOLOGICS, established in June 2022, is rapidly expanding its business using a two-track strategy of "acquisition" and "build", aiming to become a global top 10 CDMO. As of December 31, 2022, the company successfully acquired BMS's biopharmaceutical production facility located in Syracuse, New York, USA. In March of this year, it broke ground for Plant 1 of the Songdo Bio Campus at KI20 Block in Songdo Zone 11 (418, 418-9 Songdo-dong, Yeonsu-gu, Incheon), aiming to complete three plants by 2030 and achieve full operation by 2034.