IDT Biologika and SK bioscience announced a strategic partnership in June 2024, with SK bioscience to acquire 60% of IDT Biologika’s shares from the Klocke Group, which will remain the second largest stakeholder. The partnership, described as a “leap forward into global markets”, seeks to build a close relationship between the companies “based on trust in each other’s business capabilities and growth potential”. The companies hope to “stabilise and expand” their market position to meet global standards and “build an integrated infrastructure that connects multiple nations”.
Combining strengths
IDT Biologika brings access to long-standing partnerships with leading pharma companies and institutions, cGMP-level manufacturing, and R&D infrastructure, a global supply chain, global talent, and immediate entry into the new bio business. The partnership will enable IDT Biologika to strengthen its position in the vaccine market and expand its cell and gene therapy portfolio.
“Both companies expect to create synergies.”
SK bioscience is committed to promoting human health “from prevention to cure” and demonstrated superior CMO and CDMO capabilities during the COVID-19 pandemic.
Carsten Klocke of Klocke group, shared that “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.”
Klocke is “delighted” with SK bioscience’s decision to “enter the future together”.
“This shows that they value and trust our know-how, our scientific expertise, and our strong partnership with customers. I am convinced that SK bioscience is the right partner for IDT Biologika; we share a solid foundation and the same vision. We are combining our expertise and commercial capabilities to contribute to the health of people worldwide.”
IDT Biologika’s CEO, Dr Ulrich Valley, looks forward to working with SK bioscience. Dr Valley stated that IDT Biologika has “built up an excellent reputation in the field of viral vaccines in recent years” and has a “reliable business” internationally. SK bioscience “is also pursuing this strategy” with “extensive expertise in the development and production of vaccines” that enables both companies to expand their market position.
“It is equally important that SK bioscience is focusing on the cell and gene therapy segment, just like IDT, and would like to strategically accompany customers in this business area into the future together with IDT Biologika.”
Jaeyong Ahn, CEO and President of SK bioscience, believes that the “main purpose” of the partnership is to “establish a new growth base and to further expand our core businesses into global markets, including developed countries”.
“Since it represents a high business value for the investment by securing immediate revenue, a global production base, and efficient production facilities, we will continue to make an effort to enhance the company’s corporate value.”
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