Dessau-Rosslau (Germany) and Rockville, MD (USA), June 27th, 2024 – IDT Biologika, a leading contract development and manufacturing organization (CDMO) specialized in viral vaccines, viral vectors for cell and gene therapy as well as oncolytic viruses and other biologics, announces a strategic partnership with SK bioscience, a global innovative vaccine and biotech company with its headquarters in South Korea. SK bioscience will acquire 60 percent of IDT Biologika’s shares from the Klocke Group. Klocke Group remains the second largest stakeholder and retains a 40 percent stake in IDT Biologika.
The partnership of IDT Biologika and SK bioscience represents a leap forward into global markets with significant improvements in production infrastructures and securing key personnel. It aimsto build a close partnership between the two companies based on trust in each other’s business capabilities and growth potential.
SK bioscience is committed to promoting human health from prevention to cure and has demonstrated its superior CMO and CDMO capabilities during the COVID-19 pandemic by winning multiple contracts to manufacture and supply COVID-19 vaccines with global pharmaceutical companies.
Both companies 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 U.S. and Europe, and build an integrated infrastructure that connects multiple nations, including the U.S., Europe, and Korea.
IDT Biologika offers access to long-standing partnerships with leading global pharma companies and institutions,cGMP-level manufacturing and R&D infrastructure, a global supply chain for the next pandemic,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. Both companies expect to create synergies. The CGT business is one of the future growth engines of SK bioscience.
Carsten Klocke, Klocke Group / Shareholder IDT Biologika: “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. 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.”
Dr. Ulrich Valley, CEO of IDT Biologika: “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. 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: “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.” He added, “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.”
In spring 2023, IDT Biologika and the Klocke Group examined various options for the future successful development of the company, considering various models for involving external investors. This process has come to a successful conclusion with the signing with SK bioscience. The companies Evercore, which managed the overall process and acted as exclusive financial advisor, and Freshfields, which acted as legal counsel, played a key role in this process.
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