BOSTON – Lotte Biologics Co. has signed a deal to manufacture an antibody therapy for British biotech startup Ottimo Pharma as the South Korean biopharmaceutical company moves to expand its presence in the global supply chain.
Lotte Biologics, the drug consignment development and production unit of Korean conglomerate Lotte Group, signed the contract during the annual BIO International Convention, which began on Monday in Boston, Massachusetts.
Lotte didn’t disclose the financial terms of the contract.
Under the deal, known as contract manufacturing organization (CMO), Lotte will produce Ottimo Pharma’s dual-action antibody drug Jankistomig at its Syracuse bio campus in New York – a facility it acquired from Bristol Myers Squibb (BMS) in 2023.
Lotte Biologics CEO James Park (third from right) and Ottimo Pharma Vice President Joseph Shultz (third from left) pose for a photo after signing a CMO deal during the BIO International Convention 2025 in Boston Ottimo Pharma’s Jankistomig is a one-of-a-kind PD1/VEGFR2 dual pathway antibody designed to extend the lives of patients living with cancer.
Production is set to begin as early as July, with the initial clinical batches to be used in human trials of the drug, targeting both PD1 and VEGFR2 proteins – pathways associated with immune suppression and tumor growth, respectively.
Jankistomig is believed to be the first such drug candidate globally.
“This is potentially a blockbuster-class drug,” said James Park, chief executive of Lotte Biologics, during a press briefing on the sidelines of the convention. “It combines immunotherapy and targeted therapy mechanisms into a single molecule, an innovation that could reshape future cancer treatments.”
Lotte Biologics aims to join the global top 10 CDMO firms by 2030 (Screenshot captured from its website) SECOND DEAL SINCE APRIL’S ADC CONTRACT
ADCs, often described as “guided missiles” for cancer therapy, deliver cytotoxic agents directly to tumors with minimal damage to healthy tissue.
Park said Lotte is in last-stage negotiations with three additional clients and could announce “one or two ADC-related contracts within a month.”
Lotte Biologics' pharmaceuticals production plant in Syracuse, New York Lotte is building a 120,000-liter biomanufacturing facility in Songdo, Incheon, as its high-volume production hub from 2027 to accommodate CMO and CDMO, or contract development and manufacturing organization, requests.
SYRACUSE PLANT: STRATEGIC BRIDGE FOR CLIENTS
The Syracuse site, by contrast, acts as a strategic bridge for partnerships with global biotech clients, particularly those looking to mitigate rising tariff risks and strengthen onshore parts of their supply chains, according to Lotte.
Lotte Biologics is a latecomer to the Korean CDMO market, which is dominated by its larger rivals such as Samsung Biologics Co. and SK Biopharmaceuticals Co.
Bird's-eye view of Lotte Biologics' plants in Songdo, Incheon, South Korea (Courtesy of Lotte) “There is growing interest from biopharma companies seeking to move production back to the US due to tariff concerns,” said Park. “Lotte is currently the only Korean CDMO with antibody-drug conjugate production capabilities on US soil, and that’s giving us a competitive edge.”
