SAN FRANCISCO, Calif. -- By Lee Han-soo/Korea Biomedical Review correspondent – Samsung Biologics unveiled its aspiration to become a top-tier global biopharmaceutical company by 2030 during the 2023 J.P. Morgan Healthcare Conference's Main Track on Wednesday. 

John Rim, CEO of  the biotech unit of Samsung Group, revealed a detailed plan for entering new business areas -- antibody drug conjugates (ADCs) and cell and gene therapy (CGT). 

"The company plans to expand its portfolio, such as antibody drug conjugates and cell and gene therapy in line with market changes and prepare a foundation for sustainable growth," Rim said. 

Samsung Biologics will build facilities for ADCs this year, with the aim of the first ADC production in the first quarter of 2024. 

The company also plans to boost capacity for contract manufacturing organization (CMO) business of next-generation treatments.

To grow contract development organization (CDO) business, the company will seek new modalities in CGT, ADC, and mRNA technologies, Rim added. 

Notably, through the Life Science Fund, which is a 150 billion won ($120 million) fund formed by Samsung Biologics and Samsung C&T, the company will be investing in a third company, which specializes in ADC, within the first quarter of this year. 

The Life Science Fund had previously invested in Jaguar Gene Therapy, a U.S. gene therapy development company, for 20 billion won, and Senda Biosciences, a U.S. biotechnology company, for 19 billion won in 2022. 

He also vowed to make Samsung Biologics to become a “top-tier” global biopharma by 2030 using three frameworks -- capacity, portfolio, and geography. 

"Samsung has had phenomenal organic growth, such as investing in Bio Campus 2, continuing to build new plants, operating our CDO business, expanding our sales offices, advancing new technologies," he said.

Samsung Biologics plans to invest 7.5 trillion won in Bio Campus 2. 

Moving on, the company will also focus on inorganic growth. 

According to Rim, the company has been looking at opportunities in plant acquisitions and technology.

"We are formalizing a plan and will pursue both organic and inorganic strategy to further grow Samsung Biologics," Rim said.

During the session, Rim also presented goals to accelerate production growth in 2023.

Samsung Biologics will complete the construction of its fourth plant in Songdo, Incheon, which is partially in operation, in the first half of this year, Rim said. 

"When completed, the plant will have the world's largest production capacity of 240,000 kL (kiloliters) of biopharmaceuticals."

When combining the production capacity of the first (30,000 kL), second (154,000 kL), third (180,000 kL), and fourth plant, Samsung Biologics has the world's biggest production capacity of 604,000 liters, Rim added.

Rim stressed even though the fourth plant is partially operational, the company has a contract manufacturing organization (CMO) agreement for 11 products for eight clients worldwide. 

"The company is also discussing CMO contracts for 34 medicines with 26 biopharmaceutical companies around the world," Rim said. "The company also currently has CMO contracts with 12 of the top 20 global pharmaceutical companies."

Rim also unveiled plans to expand plants on the recently acquired Bio Campus 2 site, which is about 88 acres, equivalent to 50 soccer fields.

"The company plans to invest a total of 7.5 trillion won ($6 billion) in constructing four new plants and a bio innovation center to nurture promising companies related to next-generation medicines," Rim said. "The company will decide on building a fifth plant within this year after the fourth plant becomes fully operational."

Regarding the CDO business, Rim explained that the company would strengthen its competitiveness by adding a local sales base in New Jersey during the first quarter of 2023 to increase geographical accessibility for global pharmaceutical companies.

"The sales office will allow Samsung Biologics to establish a permanent communication channel in a place with high geographical accessibility to customers and increase satisfaction," Rim said. "In the future, we plan to further advance into Europe and other countries to secure sales competitiveness."

Rim also unveiled his expectations about a spur in growth from Samsung Bioepis, its wholly-owned subsidiary.

"From a portfolio perspective, we have the broadest biosimilar portfolio with 10 products," Rim said. "The biggest opportunity for us this year will be the launch of the Humira biosimilar, which will happen in July this year."