[San Diego (U.S.) = E-Daily Reporter SONG YOUNG-DOO ] “While RNA therapeutics used to be just a concept, they are now moving into the commercialization phase. Potential clients I met at BIO USA are also showing the most interest in RNA and antibody-oligo conjugates (AOCs).”

Choi Seok-woo, Head of the Business Division at ST Pharm Co., Ltd., conveyed this atmosphere when met at the BIO International Convention (BIO USA) held in San Diego, U.S., on the 23rd (local time). He said, “Not only have project meetings with existing clients increased, but inquiries about new partnerships have also risen significantly,” adding, “I can feel that the technological direction the company has been preparing for over the past several years is aligning with market trends.”


ST Pharm Co., Ltd.(237690)At this year’s BIO USA, the company held business meetings with global pharmaceutical companies and biotech firms, focusing on oligonucleotide therapeutics, mRNA, lipid nanoparticles (LNPs), AOCs, and guide RNAs for gene editing. In addition to reviewing existing projects, the company is also focusing on securing new clients.

Expanding the Market Through Commercialization References... Benefits from U.S. Biosecurity Laws Also Becoming a Reality

Based on its existing core business—oligonucleotide CDMO—ST Pharm Co., Ltd. is expanding its operations into the manufacturing of next-generation RNA therapeutics, such as mRNA. Since the company’s structure is designed to provide core manufacturing services commonly required by RNA therapeutics developers rather than relying on specific pipelines, analysts expect it to benefit from market expansion.

Executive Vice President Choi stated, “Recently, even companies that were previously developing new antibody drugs are actively exploring RNA technology. In particular, inquiries regarding AOCs and RNA platforms have increased noticeably. Just as ADCs changed the paradigm of the anticancer drug market, AOCs are highly likely to become the next growth driver.” He added, “When we explain our experience in successfully producing products through to the commercialization stage, customers naturally understand why they should partner with ST Pharm Co., Ltd.”

In fact, representatives from overseas companies who visited the ST Pharm Co., Ltd. booth spent a significant amount of time asking about ST Pharm Co., Ltd.’s track record.

The push for the Biosecure Act in the U.S. was also cited as an opportunity. Executive Vice President Choi explained, “We are receiving a steady stream of inquiries from companies looking to transfer projects previously handled by Chinese CDMOs,” adding, “Of the approximately 20 related consultations to date, about four have led to actual contracts.”

More than 90% of ST Pharm Co., Ltd.’s revenue comes from clients in the U.S. and Europe. As the company supplies oligonucleotide therapeutic raw materials and manufacturing services to global pharmaceutical and biotech firms, expectations are growing that it will benefit indirectly from geopolitical shifts.

He identified ST Pharm Co., Ltd.’s greatest competitive advantage as, without a doubt, its “commercialization experience.” The company has secured a position among the global leaders in the oligonucleotide CDMO sector and is currently producing five commercial products already on the market. Overall, it highlights the manufacturing know-how accumulated through the execution of approximately 16 commercial projects as a key strength.

According to ST Pharm Co., Ltd., as of the end of 2025, the company has secured 162 commercial projects and 113 clinical projects, and is expanding its business beyond oligonucleotides into the fields of specialty monomers and conjugation. It is widely regarded as strengthening its ability to respond to the next-generation nucleic acid therapeutics market by building a portfolio that spans from early-stage research to commercial production. The company is also continuing its growth momentum, recording consolidated revenue of 67 billion won and operating profit of 11.5 billion won in the first quarter of this year.

Executive Vice President Choi stated, “Currently, the proportion of commercialization projects is actually quite high,” adding, “For long-term growth, it is important to secure more customers in the early clinical stages to expand our future pipeline.”

From AI to AOC… Preparing for Future Growth

ST Pharm Co., Ltd. is expanding its business scope beyond its existing oligonucleotide CDMO operations into AI and next-generation platforms. Specifically, the company is expanding into next-generation nucleic acid-based platforms such as AOCs (antibody-oligonucleotide conjugates), mRNA, and guide RNAs for gene editing. In particular, according to the company, global client interest in AOCs is rapidly increasing, and it is expected to become a new growth driver alongside the future expansion of RNA therapeutics commercialization.

ST Pharm Co., Ltd. plans to use AI not only to optimize manufacturing processes but also to review clients’ RNA sequence design, chemical modifications, and conjugation methods to enhance development efficiency.

In particular, AOC—which the company has identified as a key driver of next-generation growth—is a platform that combines the targeted delivery capabilities of antibodies with the gene regulation functions of RNA therapeutics. The industry views it as a technology poised to open up new markets following ADCs. The company has already secured the relevant manufacturing technology and is currently working on projects, while also expanding its areas of application to include CRISPR guide RNAs for gene editing, mRNA-based therapeutics, and next-generation cell and gene therapies.

Executive Vice President Choi stated, “In the past, RNA therapeutics focused primarily on rare diseases, but now their indications are expanding to chronic conditions such as hyperlipidemia, and the number of approved products is growing rapidly. As commercialization gains momentum, the value of CDMOs with mass production capabilities and quality control expertise will increase even further,” he said. “New application markets, such as mRNA vaccines for pandemic response, personalized therapies, and veterinary medicines, are also continuing to open up,” he added, emphasizing that “as RNA-based new drugs become firmly established in the market, ST Pharm Co., Ltd.’s growth opportunities will expand accordingly.”