ST Pharm Wins $56 Million Oligonucleotide API Supply Deal with US Biotech

South Korean contract manufacturer ST Pharm has sealed a supply contract worth $56 million to provide active pharmaceutical ingredients (APIs) for an oligonucleotide therapeutic developed by an unnamed US biotech company. The deal covers manufacture of oligonucleotide raw materials for a prospective treatment targeting severe hypertriglyceridemia and represents roughly 30 percent of ST Pharm’s 2024 revenue, underscoring its expanding footprint in the global API market. The supply agreement runs from late January through December of this year, and the value jump has also boosted ST Pharm’s order backlog by around 30 percent.

The company has responded to growing demand for oligonucleotide therapies by ramping up capacity, including opening a second dedicated manufacturing facility last year able to serve clinical through commercial API needs. ST Pharm specialises in a broad range of APIs including small molecules and oligonucleotides used in gene-modulating treatments and has been building capabilities in RNA-based technologies to support global pharma partners. This latest contract highlights CDMO momentum as biotechs and drug developers seek reliable suppliers for complex API supply chains.