Lotte (KRX:004990) subsidiary Lotte Biologics signed a contract with an unnamed Asian biotech firm to manufacture clinical trial materials for an antibody-drug conjugate (ADC), marking the launch of its $100 million ADC production facility at the Syracuse Bio Campus in New York.
The cGMP-compliant plant offers integrated one-stop contract development and manufacturing organization services, from development to commercial-scale manufacturing, Lotte Biologics said Thursday.
Shares of Lotte rose nearly 1% at market close on Friday, April 25.
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