Samsung BioLogics announced on July 31 that it has signed a CMO contract with UCB, a global pharmaceutical company. The deal was initially announced on May 17 without disclosing the name of UCB, but both companies decided to disclose the name of the client and release a revised disclosure.
The minimum guaranteed amount of the contract is US$34 million and if Samsung BioLogics develops the client’s product, the minimum guaranteed contract will jump to US$148 million through commercial production operation.
Through this agreement, Samsung BioLogics plans to produce UCB’s candidates for drugs aimed at inhibiting the accumulation of tau protein, which is known as a key cause of central nervous system diseases and Alzheimer's disease.
UCB is a leading player in the development of new drugs in neurology and immunology, It is listed on the Brussels Stock Exchange and posted 6.6 billion euros in sales in 2018.