Lotte Biologics Co. has landed a contract to manufacture an experimental cancer treatment for British startup Ottimo Pharma, as the South Korean biopharmaceutical firm continues building its global client base.
The agreement was announced at this week’s BIO International Convention in Boston, where Lotte will produce drug substance for Ottimo’s Jankistomig antibody therapy at its Syracuse facility in New York. The companies did not disclose financial terms.
Jankistomig is designed to target both immune checkpoint inhibition and blood vessel formation in cancer treatment, with Ottimo planning to file for clinical trials in late 2025. The London-based startup, led by former Seagen CEO David Epstein, raised over $140 million in December to advance the drug’s development.
Lotte acquired the Syracuse campus from Bristol Myers Squibb in 2023 for $160 million, gaining 40,000 liters of manufacturing capacity. The Korean conglomerate subsidiary has been expanding partnerships across Asia and Europe while building three new facilities in South Korea expected to begin operations in 2027.
The deal represents another step in Lotte’s effort to establish itself as a contract manufacturer in the competitive biologics market, though the company faces established rivals with deeper manufacturing experience and larger scale operations.
