Lotte Biologics CEO James Park (Lotte Biologics)

Lotte Biologics said Monday that it has hired James Park, former sales chief at Samsung Biologics and CEO of GC Cell, as its new CEO.

Park, a 58-year-old industry veteran, holds a bachelor’s degree in chemical engineering from the University of California, Davis, and a master’s degree in industrial engineering from Columbia University.

He has held various leadership roles at global pharmaceutical companies, including Merck and Bristol Myers Squibb, where he oversaw drug development and quality management from preclinical stages to commercialization.

He also worked as executive vice president at Samsung Biologics to lead the company’s global sales team. Until recently, he served as CEO of GC Cell, a Korean biotechnology company specializing in cell therapy, leading the company’s licensing deals for its flagship immunotherapy product, Immuncell-LC, in global markets.

“James Park’s appointment is expected to lay the groundwork for a turnaround in our global market strategy while fostering collaboration between employees in Korea and the US. He is the right leader, with expertise in overall management and exceptional leadership in securing global contracts,” a Lotte Biologics official said.

Park’s appointment will be finalized following discussion at a board meeting and subsequent approval at an extraordinary shareholders’ meeting, with the timing yet to be determined.

Founded in June 2022, Lotte Biologics is rapidly expanding its contract development and manufacturing business with a dual-track strategy of acquisitions and new construction. The company acquired BMS’s biologics manufacturing facility in Syracuse, New York, in December 2022 and began construction of its plant in Songdo, Incheon, earlier this year, targeting full operations by 2034.

By Hwang Joo-young (flylikekite@heraldcorp.com)