Lotte Biologics invests in S.Korean bio-venture Pinotbio

South Korea’s Lotte Biologics Co. said on Friday that it has made an equity investment in Pinotbio, Inc. for the development of antibody-drug conjugate (ADC) platforms.

ADC is a type of biopharmaceutical in which antibodies that selectively attack antigens are combined with drugs that have therapeutic effects through a linker.

Pinotbio possesses the necessary drugs and linker technology for the development of ADC anti-cancer agents.

Through this investment, Lotte Biologics plans to establish a strategic business partnership with PinotBio and collaborate in the development and production of ADC platform technology. The companies also plan to explore ADC contract development service partnerships.

Furthermore, the investment marks the beginning of Lotte Biologics' Bio-Venture Initiative. The company aims to provide facilities and technology development cooperation opportunities for biotechnology ventures in the antibody pharmaceutical production factory that they plan to build domestically.

"Through cooperation with PinotBio, we plan to accelerate the expansion of our ADC CDMO business," said Lee, Won-Jik, the CEO of Lotte Biologics.

Write to Ji-Hyun Lee at bluesky@hankyung.com