SEOUL, March 13 (Yonhap) — Lotte Biologics Co., the biotech arm of Lotte Group, said Thursday it has signed an initial pact with U.S. biotech firm Asimov Inc. for partnership in contract pharmaceutical manufacturing.
The agreement will allow Lotte Biologics to use Asimov’s next-generation cell line development platform technology to provide “end-to-end” services, covering the entire process from cell line development to medicine production, the company said in a press release.
The company expects the collaboration will further strengthen its mainstay contract development and manufacturing organization (CDMO) capabilities.
CDMO refers to a company that provides a comprehensive service from drug research and development to commercial manufacturing.
“By combining Asimov’s cutting-edge technology with Lotte Biologics’ manufacturing excellence, we will not only deliver unparalleled services to our customers but also drive innovation in the biopharmaceutical industry,” the company’s Chief Executive Officer James Park said.
This photo provided by Lotte Biologics shows the South Korean biotech firm’s CEO James Park (L) shaking hands with Asimov co-founder and CEO Alec Nielsen after signing an MOU for partnership in contract pharmaceutical manufacturing at the U.S. firm’s headquarters in Boston on March 12, 2025. (PHOTO NOT FOR SALE) (Yonhap)
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