[Photo Description] (Right) Richard Lee, CEO of LOTTE BIOLOGICS, (Left) Soo-young Song

LOTTE BIOLOGICS and Huons Global Sign MOU

■ Huons Group to cooperate with LOTTE BIOLOGICS in clinical and commercial manufacturing of biopharmaceuticals after the successful acquisition of the Syracuse plant in the United States
■ Deal to help Korean biotech companies achieve success overseas and seek future growth partners

LOTTE BIOLOGICS announced on October 28, 2022 that it has signed a memorandum of understanding (MOU) with Huons Global for clinical and commercial manufacturing of biologics.

Executives and employees of both companies, including LOTTE BIOLOGICS CEO, Richard Lee, and Huons Global CEO, Soo-young Song, attended the business agreement ceremony held at the Huons Group's office in Pangyo, Seongnam on the 27th.

Under this agreement, LOTTE BIOLOGICS will supply clinical and commercial biological drug substance for biopharmaceuticals under research and development by the Huons Group.

LOTTE BOLOGICS, which was launched in June of this year, plans to complete the acquisition of a biologics manufacturing plant from a global pharmaceutical company, Bristol Myers Squibb (BMS), located in Syracuse, New York, USA. The plant has received more than 62 approvals for GMP (Good Manufacturing Practices) in multiple countries around the world and can provide services for production and quality processes such as scale-up, process development, biopharmaceutical raw solution production, and analytical tests. This site will manufacture clinical and commercial antibodies and recombinant drug substance developed by the Huons Group.

It will also cooperate in manufacturing of drug products at Huons Global's FDA-approved plant for Huons’ drug substance manufactured by LOTTE BIOLOGICS.

Huons Group is a global healthcare company established in 1965, and has proven its competitiveness in manufacturing and quality by obtaining FDA approval for injection-finished products for four consecutive years beginning in 2017. In addition, it is expanding its business to develop biopharmaceuticals such as antibodies and recombinant protein drugs through its affiliate Huonslab.

Soo-young Song, CEO of Huons Global said, "We are very pleased to cooperate with LOTTE BIOLOGICS in clinical and commercial manufacturing of biopharmaceuticals. We will focus our capabilities on creating positive synergy. Based on close cooperation, we will promote clinical trials on biopharmaceuticals and expand our influence in the global market."

Richard Lee, CEO of LOTTE BIOLOGICS noted, "We are very happy to sign an agreement with Huons Group, a global healthcare company, and we look forward to leveraging the experience at our Syracuse site in the U.S. to expand the global business reach of Korean biotech companies."

LOTTE BIOLOGICS will have a booth at the pharmaceutical bio convention at CPhI Worldwide, the largest biopharmaceutical convention to be held in Germany, in November of this year.

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LOTTE BIOLOGICS in CPhI Frankfurt 2022