ST Pharm wins $56 million oligonucleotide API supply contract for US biotech

ST Pharm said Friday that it has signed a $56 million (about 82.5 billion won) supply contract for active pharmaceutical ingredients (APIs) used in oligonucleotide therapeutics with a U.S.-based global biotech company.

ST Pharm’s headquarters in Banwol, Gyeonggi Province

The APIs will be used in a global new drug scheduled for commercialization as a treatment for severe hypertriglyceridemia. The U.S. client company and product name remain undisclosed due to confidentiality agreements. The contract period runs from Thursday to Dec. 18.

This order size represents 30 percent of ST Pharm's recent sales of 273.7 billion won (based on 2024 consolidated sales). The order backlog has also increased by approximately 30 percent compared to the third quarter of last year.

The oligonucleotide therapeutics CDMO market is expanding in scale, driven by accelerated R&D from global companies and a focus on late-stage clinical and commercialization projects.

ST Pharm said it proactively began responding to growing market demand last year by establishing its second oligonucleotide facility and commencing full-scale operations in the second half of the year.

The company has secured process stability, enabling consistent quality from the clinical stage through to commercial-scale production, and has implemented systems to minimize impurity generation. It is strengthening its competitiveness through an integrated technology, regulatory, and supply chain platform that provides stable support across the entire lifecycle, from clinical trials to commercialization.

“We provide diverse services tailored to customer needs, from the initial development stage through process, analysis, and change approvals,” an ST Pharm official said. “We will do our utmost to ensure a stable supply of oligonucleotide therapeutic APIs.”