NewsLOTTE BIOLOGICS Unveils Bio Plant Plans at JP Morgan Healthcare Conference

LOTTE BIOLOGICS Unveils Bio Plant Plans at JP Morgan Healthcare Conference

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LOTTE BIOLOGICS, led by CEO Richard Lee, took center stage as a participating presenter on the Asia Pacific & Latin America (APAC&LatAm) track during the prestigious JP Morgan Healthcare Conference (JPMHC) in San Francisco from January 8 to 11, 2024. The 42nd annual JPMHC, a global hub for pharmaceutical and biotech industry leaders, bio ventures, and healthcare investment experts, serves as a platform for discussions on research and development (R&D), fundraising, and partnerships.

This marked LOTTE BIOLOGICS’ second consecutive year at the JPMHC, where CEO Richard Lee presented in person. The focus of this year’s presentation was on LOTTE BIOLOGICS’ ambitious plan to establish a cutting-edge bio plant in Incheon Songdo. Emphasizing the concept of ‘Design’ as a pivotal element, CEO Lee highlighted the plant’s role in bridging the gap between market demand and supply capabilities within the Contract Development and Manufacturing Organization (CDMO) sector.

CEO Lee shared insights into the configuration plans for the Songdo bio plant, underlining its commitment to meeting client needs based on the extensive experience of its employees. He stated, “LOTTE BIOLOGICS’ bio plant in Songdo will transcend being a mere production facility; it will embody innovative solutions for a better human life. Our dedication is towards evolving as a global CDMO, ensuring the on-time-in-full delivery of necessary pharmaceuticals to patients.”

In October of the previous year, LOTTE BIOLOGICS solidified its commitment to this vision by signing a land purchase agreement with the Incheon Free Economic Zone Authority (IFEZ) to build a bio plant in Songdo International City, Incheon. The strategic plan includes the construction of three bio plants at the KI20 Block of Songdo’s 11th District by 2030, with a collective antibody medicine production capacity of 360,000 liters, reinforcing LOTTE BIOLOGICS’ position as a major player in the evolving biopharmaceutical landscape.

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