Lotte Biologics said on Wednesday that it signed a memorandum of understanding (MOU) with Roche Diagnostics to advance its contract development and manufacturing (CDMO) business.  

Last month, Lotte Biologics signed a four-way memorandum of understanding (MOU) with Lotte Holdings, Incheon Metropolitan City, and the Incheon Free Economic Zone Authority (IFEZA) to establish its biopharmaceutical production mega plant in Songdo, Incheon.

According to the MOU, the two companies plan to collaborate on multiple fronts, including the establishment of hardware and automation systems for the production process design of Lotte Biologics' mega plant, technical consulting, and equipment support.

Additionally, Lotte Biologics will provide training programs for the smooth operation of the Bio-Venture Initiative, which will take place in its domestic mega plant complex, to help bio-ventures develop their technologies. 

The signing ceremony was attended by  Lotte Biologics CEO Lee Won-jik, Roche Diagnostics CustomBiotech Vice President Rainer Mueller, and Roche Diagnostics Korea CEO Kit Tang at Roche Diagnostics CustomBiotech Center in Penzberg, Germany.

Lotte Biologics said that it aims to significantly boost its credibility with potential global clients and vice-versa, Roche Diagnostics expects to strengthen its supply network in the Asian market and provide better treatment access for patients worldwide.

"Through this agreement, we plan to enhance the production process capabilities of our domestic mega plant in collaboration with Roche Diagnostics," said Lee. "Through synergy with Roche Diagnostics, we will improve the efficiency of our operations at the forthcoming plant and simultaneously augment the quality of our manufacturing while fulfilling customer needs."