INDIANAPOLIS (dpa-AFX) - Samsung Biologics Co.,Ltd. (207940.KS), Tuesday announced a collaboration agreement with Eli Lilly and Company (LLY) to establish a Lilly Gateway Labs site in Korea, which will serve as a hub to support early-stage and emerging biotechnology companies.
As per the agreement, Samsung Biologics will develop and operate the new facility, with Lilly Gateway Labs providing customized scientific engagement to support resident biotech companies and catalyze collaboration across the Korea life sciences sector.
Additionally, the site is expected to contribute to Korea's broader biotechnology ecosystem by attracting global innovation activity, fostering talent development, and strengthening the country's position as a hub for early-stage life science research.
The facility is expected to be completed in July 2027.
Samsung's stock closed trading at KRW 1,592,000.00, up 0.82 percent on the Korea Stock Exchange.
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