Samsung Biologics, a leading contract development and manufacturing organization (CDMO), looks forward to an exciting new year full of new partnerships and more expansions and services for their existing partners to rely on. During the past year, the company introduced many initiatives, forged new partnerships, and had quarters each more successful than the last. But the company wants to do more in the next year to take its status to the next level. Expansion and growth are the first on the long to-do list for Samsung Biologics in 2022.
In the latest quarterly report, Samsung Biologics increased its revenue by 64 percent from the same quarter the previous year to 450.7 billion won. This revenue came from the almost-full capacity at all three of the operating plants. Furthermore, the operating profit grew by astronomical leaps, at 196 percent higher than the previous year, to 167.4 billion won. The net profit increased by almost half to 131.8 billion won. The third-quarter operating margin was at 37 percent, thanks to fast-turnaround COVID-19 treatments and increased utilization overall.
John Rim, CEO of Samsung Biologics, attributed this success to the “stability, quality, and efficiency of our business units in delivering pharmaceutical products to our valued clients, while maintaining a safe environment for our workforce amid the prolonged pandemic.” For Rim and for Samsung Biologics, new technologies and partnerships, along with the company’s planned expansion, will bring only more success. He said, “We continue to be excited with the progress we are making on our pipeline expansion in terms of the breadth of service offerings and the introduction of new technologies.”
Multiple new partnerships made in the past year, along with new services and initiatives, have helped create this success. Emphasis on ESG, an annual ESG report, and plans for 2022 and 2023 continue to motivate Samsung Biologics to narrow its focus on expansion, quality, and reliability.
Many New Partnerships
Samsung Biologics attracted many new partners as medical and pharmaceutical companies needed reliable CDMO services to help them meet the demands of patients around the globe. These new partners produced many different biopharmaceutical goods, whether mRNA vaccines, therapeutic treatments, or ground-breaking medication. Some of the latest partnerships include:
GreenLight Biosciences: In the month of November 2021, Samsung Biologics signed an agreement with GreenLight Biosciences and the Environmental Impact Acquisition Corp., a biotechnology business that produces RNA products. GreenLight’s messenger RNA COVID-19 vaccine candidate will be manufactured by Samsung Biologics.
Enzolytics: CDMO services were requested for COVID-19 therapies by Enzolytics Inc. Services provided by Samsung Biologics include cell line research, clinical drug substance, and drug product production to support IND submissions for HIV and SARS-CoV-2 monoclonal antibodies. There will also be ongoing conversations about the development of other monoclonal antibodies by Enzolytics.
Kineta: A CDMO was required by Kineta for their cancer therapy. Cell line development, clinical drug substance production, and drug product manufacturing services will be provided by Samsung Biologics to support the IND filing for Kineta’s new anti-VISTA antibody KVA12.1, which is being developed for the treatment of solid tumors by Kineta.
KAHR Medical Ltd: Samsung Biologics committed to supplying cancer immunotherapy business KAHR Medical Ltd. with CDMO services and IND filing assistance for its drug candidate DSP502, a TIGITxPD1-fusion protein, as well as cell line development and clinical drug substance and drug product manufacturing services.
Initiative to Promote ESG and Sustainability
Starting in 2021, Samsung Biologics began planning a new ESG program that would concentrate on the company’s environmental effect in particular. Samsung Biologics formed an ESG Committee in February 2021 to supervise and define the company’s management policies and procedures. Management, economics, biotechnology, and law and systems are the expertise of the committee’s members. The creation was followed by the release of the company’s first annual ESG report.
John Rim, CEO of Samsung Biologics, said of the report, “The publication of our annual sustainability report showcases our aims to accelerate innovation and contribute to building a healthier future for all stakeholders. As we have always been since our founding in 2011, Samsung Biologics will continue to carry out its social accountability – creating a safer and healthier culture, reducing its environmental footprint, and increasing reporting transparency on ESG initiatives.”
New Services to Assist Partnerships
Samsung Biologics unveiled a new platform, S-Cellerate, to help future partners to have treatments approved by regulatory bodies faster. “We are very pleased to showcase our innovative CDO service platform, S-CellerateTM, at BPI 2021,” said John Rim, CEO of Samsung Biologics. “By leveraging this proprietary drug development platform, our teams of experts will jointly provide seamless one-stop services to our clients, offering enhanced solutions that can help reduce both cost and time, catering to their specific needs.”
