Lotte Biologics announced the appointment of James Park, 58, former CEO of GC Cell, as its new CEO.
Park brings extensive experience from leading pharmaceutical companies, including Merck, Bristol-Myers Squibb (BMS), and Samsung Biologics, where he served as vice president and head of the Global Sales Center. At GC Cell, he spearheaded initiatives in cell and gene therapies, including a technology transfer agreement for the company’s flagship product, Immuncell-LC injection, an autologous cancer immunotherapy.
Lotte Biologics, which has yet to comment on Park’s appointment, still expressed confidence in his leadership. A company official noted, “With Park's appointment, we expect to lay the groundwork for a global market turnaround and strengthen connections between our employees in Korea and the U.S. His expertise and leadership are exactly what we need at this time”.
Park’s appointment is set to take effect on Dec. 11, following an extraordinary general meeting and board meeting, the dates for which have yet to be determined.
Founded in June 2022, Lotte Biologics is pursuing a growth strategy that includes acquisitions and new construction projects. In December 2022, the company acquired BMS’s biopharmaceutical production facility in Syracuse, New York. This year, Lotte Biologics broke ground on its first plant at the Songdo Bio Campus, with plans to complete three plants by 2030 and achieve full-scale operations by 2034.
Park had been serving as CEO of GC Cell since January 2023, but he resigned earlier than anticipated, with his initial term scheduled to end in March 2025. Won Sung-yong, the director of the Cell Therapy Research Institute at GC Cell, has been named the new CEO of the company. A GC Cell representative stated that under Won's leadership, the company will focus more on research and development.