Rakuten Medical has signed a letter of intent with Lotte Biologics as the US-based biotech company seeks to establish a manufacturing presence in Korea, according to statements made at BioJapan 2025 in Yokohama.
Minami Maeda, Rakuten Medical’s chief executive, told reporters the company approached Korea strategically due to its geographic proximity to Japan and its developed pharmaceutical sector. The partnership would mark another expansion step for Rakuten Medical, which markets Akalux, a photoimmunotherapy treatment already approved in Japan for head and neck cancer.
The therapy works by causing targeted cell death when light-activated pigments react to laser irradiation. Clinical trials for additional drug candidates are underway in multiple countries including the United States and Japan.
For Lotte Biologics, the potential deal represents another client win. The Korean contract manufacturer has already secured three CDMO agreements this year and expects two more by year-end. The company operates manufacturing sites in Syracuse, New York and is building a facility in Songdo, Korea.
Lotte Biologics has been actively courting Japanese pharmaceutical companies at industry events, with CEO James Park emphasizing the importance of building trust-based partnerships with Japanese firms known for innovation.
