SK Biopharmaceuticals Aims to Become 'Big Biotech'

24.07.2023 - SK Biopharmaceuticals, a South Korean-based biotech, has announced its new strategy to propel the company towards becoming a global “big biotech.”

Donghoon Lee, CEO of SK Biopharmaceuticals, recently presented the vision at a press conference in Seoul, including plans to globalize and mobilize its therapeutic modalities and platforms of radiopharmaceutical therapy (RPT) and targeted protein degradation (TPD).

SK Biopharma will work with TerraPower, a US-based nuclear innovation company that SK group is one of the largest investors. It will also expand into oncology, an area with sizeable therapeutic potential, as it seeks to become a major player in the RPT arena in Asia and the US.

The recent acquisition of Proteovant Therapeutics, a US-based biotech, will help to reinforce its TPD platform. This move enabled SK Biopharma to have a global R&D center for cancer therapy and adopt TPD technology for future drug development for central nervous system (CNS) diseases.

Lee outlined how the company will venture into new cell and gene therapies with SK Inc. and SK Pharmteco, utilized shared resources in R&D, production, and distribution between the SK Group entities, forming the entire “bio value chain.”

The company also plans to launch its second commercial product via an acquisition by 2025, which fits their medium to long-term strategic goals.