Lotte Biologics said it entered a partnership with Syracuse University to co-develop an educational program.
Syracuse University, a U.S. private institution consisting of 13 schools and colleges, boasts distinguished alumni such as President Joe Biden and New York Governor Kathy Hochul.
Under the accord, the two parties aim to narrow the gap between the talent nurtured in educational settings and the needs of the industry by offering introductory courses not just to students of Syracuse University but to global aspirants interested in the biotech industry, regardless of their nationality, gender, or age.
The program intends to leverage the industrial experience of Lotte Biologics' researchers in crafting the curriculum, ensuring it reflects real-world applications and trends rather than just theoretical knowledge.
"Through the development of this educational program, we hope that students will have the opportunity to benefit from the expertise of Syracuse University and the practical know-how of Lotte Biologics," Lotte Biologics CEO Richard Lee said. "We will continue to strive to provide quality education for future domestic and international talents who want to enter the bio industry through collaboration with various academic institutions."
Syracuse Chancellor and President Kent Syverud also said, "Through this collaboration, Syracuse University and Lotte Biologics will work together to develop talented individuals equipped with the skills, experience, and knowledge needed in the bio/pharmaceutical sector."
The university is pleased to strengthen its partnership with Lotte Biologics through this educational program, Syverud added.
Meanwhile, the partnership with Syracuse University comes at a time when Lotte Biologics is aggressively expanding its contract development and manufacturing organization (CDMO) business both in the U.S. and Korea.
As a result of the rapid expansion, the company has been looking to recruit talent in both countries, with one of the plans being partnering with local universities to foster young talent.
The company had previously acquired Bristol Myers Squibb (BMS) 's biopharmaceutical production plant in Syracuse in January of last year.
The company is also planning to build three "mega-plants in Songdo, Incheon, with the company finalizing a payment of approximately 2.4 trillion won ($1.7 billion) for the acquisition of land intended for the construction.
The company plans to commence construction of the bioplant this soon, following the completion of the required building permits.
To foster talent in Korea, Lotte Biologics had previously signed an agreement with Korea Polytechnic University to launch a "Lotte Biologics Academy" program within the university.
This initiative, which began in March, offers courses in production, QC/QA (quality control/assurance), GMP (good manufacturing practice), and validation, covering essential theory and practical skills required in the biotech field.