LOTTE Holdings establishes a new Healthcare and Biopharmaceutical Corporate Venture Capital
TOKYO, Aug. 29, 2024 /PRNewswire/ -- LOTTE Holdings Co., Ltd. ("LOTTE Holdings") is pleased to announce the establishment of a new Healthcare and Biopharmaceutical Corporate Venture Capital ("CVC") dedicated to investing in biopharmaceuticals and next-generation modalities.
LOTTE Group operates under the group philosophy of "enriching people's lives by providing superior products and services that our customers love and trust." Expanding its business across various fields, LOTTE Group entered the healthcare and biopharmaceutical sector in 2022 by establishing LOTTE BIOLOGICS, a Contract Development and Manufacturing Organization (CDMO).
To further strengthen its commitment to healthcare and biopharmaceuticals, LOTTE Holdings has newly established a CVC dedicated to these fields. This CVC aims to gather cutting-edge insights to accelerate access to innovative technologies and promote investment in promising startups. In this first phase of investment, the CVC aims to target companies of all stages globally.
LOTTE Holdings CEO Genichi Tamatsuka expressed, "LOTTE Holdings has recently embarked on an ambitious venture into the healthcare sector, and we are committed to becoming a leading player in the health and wellness industry. This CVC marks our pivotal first step in establishing a platform to ignite innovation and drive our future growth."
LOTTE Holdings Co., Ltd.
HQ: 20-1, Nishi-shinjuku 3-chome, Shinjuku-ku, Tokyo, Japan 160-0023
Representative Director & CEO: Genichi Tamatsuka
Since its founding in 1948, LOTTE has continually advanced innovation. Today, LOTTE has headquarters in both Japan and Korea and operate businesses in approximately 30 countries worldwide, spanning a wide range of industries including food, distribution, retail, biopharma, data centers, hotels, entertainment, and construction.
LOTTE BIOLOGICS
HQ: 300 Olympic-ro, Songpa-gu Seoul, Seoul, 05551 Republic Of Korea
CEO: Richard Wonjik Lee
URL: https://www.lottebiologics.com/en/
LOTTE BIOLOGICS, established in 2022 and headquartered in Seoul, South Korea, is solidifying its competitiveness in the CDMO market. The company operates a manufacturing facility for biopharmaceutical antibody production in Syracuse, New York and is planning to establish a one-stop ADC service platform.
By the end of 2030, LOTTE BIOLOGICS expects to complete the construction and operate a 360kL bio campus in the Songdo area of Incheon, South Korea.
SOURCE LOTTE Holdings
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