SK Bioscience Acquires Majority Stake in IDT Biologika
South Korea-headquartered contract development and manufacturing organization (CDMO) SK Bioscience plans to acquire a 60% stake in IDT Biologika, a German CDMO specialized in vaccines, gene and immune therapy and oncolytic viruses, from Klocke Group. Klocke will retain a 40% stake in IDT Biologika and thus remains the company's second-largest shareholder.
With this partnership, SK Bioscience and IDT Biologika “want to stabilize and expand their market position by securing quality, production capabilities, and a client network to meet the standards of developed countries such as the US and Europe, and build an integrated infrastructure that connects multiple nations, including the US, Europe, and Korea.”
According to IDT Biologika, it offers access to long-standing partnerships with leading global pharma companies and institutions, cGMP-level manufacturing and R&D infrastructure, a global supply chain, global talent in the vaccine and bio industry and immediate entry into the new bio business such as anti-cancer viruses and cell and gene therapy (CGT). This transaction will enable IDT Biologika to strengthen its position in the vaccine market and expand its portfolio for cell and gene therapies, which SK Bioscience considers as one of its future growth drivers.
Carsten Klocke, board member and co-owner of Klocke Group, commented: “We have invested significantly in the future of IDT Biologika in recent years. In addition to the development of highly qualified personnel along the entire value chain, the expansion of our manufacturing capacities, including in the production of drug substance and large-volume filling, was a key focus. I am delighted with SK bioscience’s decision to enter the future together with us.”
Ulrich Valley, CEO of IDT Biologika, added: “We look forward to working with SK bioscience. IDT Biologika has built up an excellent reputation in the field of viral vaccines in recent years and has a reliable business with top pharmaceutical companies as well as government agencies worldwide. SK bioscience is also pursuing this strategy and has extensive expertise in the development and production of vaccines, enabling us to jointly expand our market position.”
Jaeyong Ahn, CEO and president of SK bioscience, said: “The main purpose of this deal is to establish a new growth base and to further expand our core businesses into global markets, including developed countries.”
