LOTTE BIOLOGICS Signs MoU with MilliporeSigma for Strategic Partnership
Lotte Group has named MilliporeSigma as its preferred bioprocess vendor to support its burgeoning US-based CDMO business.
LOTTE BIOLOGICS, new biologics business of LOTTE group, signed a Memorandum of Understanding (MoU) with MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, a leading science and technology company, outlining a collaboration to establish LOTTE’s biologics manufacturing capabilities in the USA after LOTTE made its first step in stepping into the US through acquisition of Bristol-Myers Squibb’s facility.
With this agreement, MilliporeSigma will be the first supplier to provide LOTTE with consulting, training, technical expertise, products, technologies, and manufacturing solutions.
“MilliporeSigma will be able to provide consulting, training, technical expertise, technologies, and products to Lotte Biologics to establish its facility for biologics drug development to commercialization,” said by LOTTE BIOLOGICS.
“Our dedicated development experts work as an extension of the customer team, defining and managing each stage of their process with openness and transparency while keeping customers deeply involved. We do this by balancing speed, risk and cost through customer solutions by leveraging our bioprocessing technologies and process development expertise.”
LOTTE BIOLOGICS added, “This planned collaboration with Lotte Biologics showcases our expertise in the industry. With more than 30 years of experience in process development and GMP manufacturing, we are committed to impacting life and health with science. This planned collaboration is just one example of our commitment.”
LOTTE Corporation is a holding company of LOTTE Group, based in Seoul, Korea. LOTTE Group was formally established in 1967 and has since grown to become Korea’s fifth-biggest conglomerate encompassing four key business areas including Food & Beverage, Retail, Chemical, Hotel & Service with more than 90 affiliates. Most of LOTTE Group’s businesses have taken leading positions in the domestic market. LOTTE Group is in over 30 countries around the world. LOTTE is also well-known for its skyscraper ‘LOTTE World Tower’ which is the tallest building in South Korea and the 5th tallest in the world.