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LOTTE BIOLOGICS announced that it has made a substantial investment in PINOT BIO, a specialized firm renowned for its pioneering work in the development of antibody-drug conjugate (ADC) platforms. This landmark investment, made in the interest of fostering and nurturing business partnerships, will facilitate the creation of a cutting-edge, cross-industry synergistic environment for the development and production of ADC platforms.

By leveraging the combined strengths of LOTTE BIOLOGICS and PINOT BIO, the partnership seeks to foster growth and expansion across the bio-industry's value chain. This investment will also grant LOTTE BIOLOGICS the opportunity to establish itself as the preferred supplier for the antibody and ADC production of PINOT BIO's ADC pipeline while simultaneously exploring potential contract development organization (CDO) service partnerships.

The partnership has been hailed as the starting point for LOTTE BIOLOGICS to launch a "Bio-Venture Initiative" that has the potential to significantly contribute to the growth of the bio industry's value chain. This initiative will create a thriving platform for technology development cooperation and provide facilities for bio start-ups in LOTTE’s recently announced Korean Mega Plant Campus. Such ventures are expected to increase the development of cutting-edge technologies, which will ultimately drive expansion across the bio industry. LOTTE BIOLOGICS has already made significant strides in this regard, acquiring the Syracuse plant only six months after the company’s inception.

Richard Lee, CEO of LOTTE BIOLOGICS, said, "We are excited to collaborate with PINOT BIO, a company with unparalleled capabilities in the ADC field. Through this partnership, we anticipate accelerating the expansion of our ADC CDMO business at LOTTE BIOLOGICS. We remain fully committed to fostering open innovation and collaboration with potential bio-ventures, coupled with the continuous development of our own capabilities."