Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
Samsung Biologics to promote ADC capabilities at bio fair
Samsung Biologics' booth at BioPlus Interphex Korea 2024 / Courtesy of Samsung Biologics
By Nam Hyun-woo
Samsung Biologics will participate in BioPlus Interphex Korea 2024, the largest biopharmaceutical exhibition in Korea, to showcase its contract-based drug manufacturing and development capabilities, Tuesday.
The event, which is the largest bio and pharmaceutical convention in Korea, will invite over 250 companies and 10,000 industry experts to COEX in Seoul from Wednesday to Friday, as a stage for participants to share their knowledge in the bio industry value chain and discuss partnership opportunities.
At this year’s event, Samsung Biologics set up an independent booth dedicated to highlighting its competitiveness as one of the world’s leading contract development and manufacturing organizations (CDMOs). CDMO refers to a company that develops and manufactures drugs for client companies.
During the event, the company plans to promote its blueprint for expanding its manufacturing capacity to a world-largest 1.32 million liters by 2032. Also, it will introduce its competitiveness in contract development and its new portfolio, including antibody-drug conjugate (ADC) and messenger ribonucleic acid (mRNA), which are gaining attention as next-generation cash cows for global drugmakers.
Samsung Biologics has been gearing up its ADC services recently as market trackers forecast sharp growth. The U.S. forecasts that the global ADC market will grow 17.5 percent annually on average to $34.7 billion in 2032 from $8.5 billion in 2023.
In March, Samsung Life Science Fund, created jointly by Samsung Biologics, Samsung Bioepis and Samsung C&T, invested in BrickBio, a U.S. preclinical-stage biopharmaceutical company that excels in ADC technology. Samsung Biologics is scheduled to complete a standalone facility dedicated to ADC drugs within this year.
During the event, Samsung Biologics Director of Formulation Development Lim Heon-chang will participate in a speaking session and will introduce Developick, the company’s assessment tool for exploring development candidates.