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Samsung Biologics Enters New Era with “First-of-its-kind” Client-Centric CMO Deal

Samsung Biologics Enters New Era with “First-of-its-kind” 

Client-Centric CMO Deal

 

 Samsung Biologics building image

 

 

INCHEON, S. Korea, 05 June 2019 - Samsung Biologics (SBL) recently entered a new era by signing a “first of its kind” deal with a US biopharmaceutical company valued at $7.8 million US through 2020. The client is an early stage development company with a high potential early stage asset with a requirement to ensure stable and consistent supply for its clinical trials and commercialization.

 

Under the terms of the contract, the deal will increase to $39.8 million US when the client progresses development of the clinical product, and will increase to $301 million US when the client obtains approval for the product. The minimum committed amount can be additionally increased based on actual product demand.

 

From the outset, Samsung Biologics worked closely with the client in order to understand their needs. This allowed Samsung to come up with a flexible and client-centric deal that maximizes value creation for the client through multiple phases of clinical trials through to commercialization. The deal has been structured such that the client only has to make commitments for each individual clinical trial phase, thus minimizing the cash requirements for the client and protecting them from extensive financial liability in case the product does not advance to the next stage of development. The agreement also has automatic milestones that trigger as each clinical trial progresses successfully. If a trial has successful clinical results, the client automatically has access to production for the next clinical phase. When the final clinical trial concludes and the client’s product is approved by the health authority, the client automatically has access to a complete commercial agreement. This commercial agreement provides additional flexibility during the initial launch years to allow the client to adapt to varying demand until the market stabilizes, ensuring steady and high quality supply for each phase of development. 

 

“We believe we have entered a new era in Samsung Biologics’ history with the creation of a new client-centric agreement that addresses the demand for not only variable and reliable supply through clinical trials but also for ensuring low COGS at the commercialization stage. This empowers our client with the ability to manufacture each phase of product at a different scale, increasing with each phase and allowing them to optimize their costs,” said Dr. Tae Han Kim, CEO of Samsung Biologics. “This enables a small, early stage biopharma to have predictable, low-cost, and reliable supply of their product through every stage of development by signing one agreement. This is efficient not just from a supply and COGS perspective but also a resource perspective for a company that has limited human capital to deploy.”

 

Samsung Biologics expects this new type of innovative, client-centric agreement to be highly attractive to early stage companies by providing certainty of stable and reliable supply through various stages with optimized cost effectiveness at commercialization. 


Samsung Biologics Enters New Era with “First-of-its-kind” 

Client-Centric CMO Deal

 

 Samsung Biologics building image

 

 

INCHEON, S. Korea, 05 June 2019 - Samsung Biologics (SBL) recently entered a new era by signing a “first of its kind” deal with a US biopharmaceutical company valued at $7.8 million US through 2020. The client is an early stage development company with a high potential early stage asset with a requirement to ensure stable and consistent supply for its clinical trials and commercialization.

 

Under the terms of the contract, the deal will increase to $39.8 million US when the client progresses development of the clinical product, and will increase to $301 million US when the client obtains approval for the product. The minimum committed amount can be additionally increased based on actual product demand.

 

From the outset, Samsung Biologics worked closely with the client in order to understand their needs. This allowed Samsung to come up with a flexible and client-centric deal that maximizes value creation for the client through multiple phases of clinical trials through to commercialization. The deal has been structured such that the client only has to make commitments for each individual clinical trial phase, thus minimizing the cash requirements for the client and protecting them from extensive financial liability in case the product does not advance to the next stage of development. The agreement also has automatic milestones that trigger as each clinical trial progresses successfully. If a trial has successful clinical results, the client automatically has access to production for the next clinical phase. When the final clinical trial concludes and the client’s product is approved by the health authority, the client automatically has access to a complete commercial agreement. This commercial agreement provides additional flexibility during the initial launch years to allow the client to adapt to varying demand until the market stabilizes, ensuring steady and high quality supply for each phase of development. 

 

“We believe we have entered a new era in Samsung Biologics’ history with the creation of a new client-centric agreement that addresses the demand for not only variable and reliable supply through clinical trials but also for ensuring low COGS at the commercialization stage. This empowers our client with the ability to manufacture each phase of product at a different scale, increasing with each phase and allowing them to optimize their costs,” said Dr. Tae Han Kim, CEO of Samsung Biologics. “This enables a small, early stage biopharma to have predictable, low-cost, and reliable supply of their product through every stage of development by signing one agreement. This is efficient not just from a supply and COGS perspective but also a resource perspective for a company that has limited human capital to deploy.”

 

Samsung Biologics expects this new type of innovative, client-centric agreement to be highly attractive to early stage companies by providing certainty of stable and reliable supply through various stages with optimized cost effectiveness at commercialization. 


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Samsung Biologics
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Effective Date: [30Dec2019]

This Privacy Policy illustrates how Samsung Biologics ("we", “our”, “us”) use and protect information you provide through your use of this website (the "Website") or our customer inquiry and recruitment services (collectively the “Services”).

Please read this Privacy Policy carefully and feel free to contact us if you have any questions, using the contact information provided in the Contact Us section below.

Information we may collect from you
1.Customer Inquiry

When you fill out the “Contact Us Form” on our Website, we may collect the following types of information:

  • Customer Inquiry information include Category, Information we may collect from you.
    Category Information we may collect from you
    Contact Us Mandatory Name, E-mail Address, Company Name, Occupation, Country, Areas of Interest, Inquiries/Comments
    Optional Any additional information you provide including but not limited to the job title
    Customer Inquiry information include Category, Information we may collect from you.
    Category Information we may collect from you
    Contact Us Mandatory Name, E-mail Address, Company Name, Occupation, Country, Areas of Interest, Inquiries/Comments
    Optional Any additional information you provide including but not limited to the job title

    Access log and website usage information collected through cookies. For more information about how we use cookies on our Website, please see our Cookie Policy.

2.Recruitment

When you submit your application via “TalentPool” on our Website, we may collect the following types of information:

  • Recruitment infomation include Category, Information we may collect from you.
    Category Information we may collect from you
    Talent Pool Mandatory Name, E-mail Address, Country, Areas of Interest, Resume
    Optional Any additional information you provide including but not limited to personal profiles on SNS
    Application Form
    (in Korean)
    Mandatory Name, Date of Birth, Address, E-mail, Contact Number,
    Education History (Name of School, Major, Enrollment Year/Month, Graduation Year/Month, Location), Employment History (Employment Period, Company, Job Title, Job Scope, Major Task), Language, Miscellaneous (Military Status, Reason for Exemption, Veteran Status)
    Optional Any additional information you provide including but not limited to research career, special qualifications and licenses, personal profiles on SNS.
    Recruitment infomation include Category, Information we may collect from you.
    Category Information we may collect from you
    Talent Pool Mandatory Name, E-mail Address, Country, Areas of Interest, Resume
    Optional Any additional information you provide including but not limited to personal profiles on SNS
    Application Form
    (in Korean)
    Mandatory Name, Date of Birth, Address, E-mail, Contact Number,
    Education History (Name of School, Major, Enrollment Year/Month, Graduation Year/Month, Location), Employment History (Employment Period, Company, Job Title, Job Scope, Major Task), Language, Miscellaneous (Military Status, Reason for Exemption, Veteran Status)
    Optional Any additional information you provide including but not limited to research career, special qualifications and licenses, personal profiles on SNS.

*No sensitive information will be collected.

How we use your information
1.Customer Inquiry

We may use the information we collect from you to conduct certain services or activities such as replying to inquiries, maintaining business records, and conducting market research.

2.Recruitment

In order to proceed with recruitment process and communicate status/result of job application(s).

Sharing information with third parties

We will not disclose your information to third parties for their marketing or business purposes without your consent. However, notwithstanding the above, we may disclose your information to the following entities for recruitment purposes:

  • Educational institutions in your application.
    Your information (name, date of birth, major, admission year, graduation year, etc.) may be disclosed to educational institutions named in your application.
  • Previous companies you worked for and reference check vendors.
    Your information (i.e. name) may be disclosed to your previous workplaces and reference check vendors.
  • Service providers.
    We may disclose your information to companies that provide Services on our behalf. These entities cannot use your information for purposes other than providing Services on our behalf.
  • Other parties when required by law or as necessary to protect our rights.
    There may be instances where we disclose your information to other parties:
    • - to comply with legal obligations or legally binding disclosure orders (such as a search warrant or other court/regulatory order);
    • - to verify or ensure compliance with the terms and policies governing our Services; and
    • - to protect the rights, property, or safety of us or any of our business partners or customers.
  • Other parties in connection with corporate transactions.
    We may disclose your information to a third party as part of a merger or transfer, or in the event of a bankruptcy.
  • Other parties with your consent or at your direction.
    In addition to the disclosures described in this Privacy Policy, we may disclose information about you to third parties when you consent to or request such disclosure.
Your Rights

To the extent permitted under applicable law(s), you may ask us to return, destroy, or correct any inaccuracies regarding your personal information. You may also ask us to restrict or limit our use of your personal information unless such restriction or limitation prevents us from complying with applicable law(s) or meeting a legal obligation.

However, your rights above may be limited in cases where your request would disclose personal information of a third party or where such a request would infringe the rights of a third party (including our rights) or if you ask us to delete information which we are required by law to preserve or have legitimate interests in retaining. Other relevant exemptions may exist under the GDPR and national laws. We will inform you of the relevant exemptions when responding to your request. To make such a request concerning your rights set forth herein, please refer to the Contact Us section below.

International Transfer of Information

We are a company based in Korea, and your use of our Website and Services will involve the transfer, storage, and processing of your personal information in Korea. Please note that the information protection laws and other applicable laws of countries outside the European Economic Area (“EEA”), to which your information may be transferred, might not be as comprehensive as those in your country. We will take appropriate measures, in compliance with applicable law, to ensure that your personal information remains protected. Such measures include the use of EU Standard Contractual Clauses to safeguard the transfer of information outside of the EEA or other methods. For more information, please contact us at privacy.bio@samsung.com.

Data Retention

We will retain your personal information for a reasonable period of time that enables us to communicate with you, to provide you with Services, to maintain business records for audit purposes, to meet recordkeeping requirements under applicable law(s), to defend or bring any legal claims and to deal with any queries or complaints you may have.

Keeping Your Information Secure

We have put in place reasonable measures to safeguard the information we collect in connection with the Services. However, please note that although reasonable steps will be taken to protect your information, no website, internet transmission, computer system or wireless connection is 100% secure from any and all potential threats.

Personal Information – Children under the age of 13

The Services are designed for general audience and are not intended or directed to children.

For US Residents Only

In connection with the Services, we will not knowingly solicit or collect personal information from children under the age of 13. In the event we do collect such personal information inadvertently or unknowingly and we later learn about it, we will promptly delete such information. If you believe that children under the age of 13 may have provided personal information to us, please contact us using the Contact Us section of this Privacy Policy.

If You are an individual resident in the EU

We process your personal information on the legal grounds that the processing is :

  • Necessary for the performance of contractual obligation(s) between you and us, for example if we’re providing service(s) that you have requested;
  • Necessary for compliance with our legal obligations;
  • Necessary for our legitimate interests, such as preparing our communications to you and continuing to develop and improve our services; or
  • With your consent or at your direction.

If you do not provide certain information to us, we may, in some circumstances, be unable to comply with our obligations or provide you with the services that you request. We will inform you of the implications of not providing certain information.

As set forth in the “Your rights” section, you are entitled, in accordance with applicable law, to object to or request restriction of processing your personal information, and to request access to, correction of, or deletion of your personal information. When we use your information on the basis of your consent, you have the right to withdraw such a consent at any time. Any requests should be submitted in writing to the address listed below in the “Contact Us” section. You also have the right to file a complaint with data protection authorities.

Contact Us

If you have any questions about this Privacy Policy, please contact us using the details below.

- Contact : 032-455-9829

- Email : privacy.bio@samsung.com

Changes to this Privacy Policy

We may update this Privacy Policy from time to time. When we update the Privacy Policy, we will revise the “Effective Date” above and post the new Privacy Policy with a new date. We recommend that you review the Privacy Policy each time you visit our Website to stay informed of our most current practices and policies.

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