(Samsung Biologics) Samsung Biologics is planning to raise over 3 trillion won ($2.2 billion) through a share offering to fund its acquisition of a peptide manufacturer and a new production campus, as competition among global drugmakers intensifies.In a regulatory filing Friday, Samsung Biologics said its board approved the offering, issuing 2.27 million new shares at 1,322,000 won apiece, a 15 percent discount that will expand its share count by 4.9 percent.Of the proceeds, 2.71 trillion won will fund the acquisition of PolyPeptide Group, a Swiss contract development and manufacturing organization specializing in peptide- and oligonucleotide-based active pharmaceutical ingredients. The deal, announced in July, is the largest biopharmaceutical transaction in Korean corporate history.The remaining 295 billion won will finance construction at Samsung Biologics' second bio campus in Songdo, Incheon."We carried out this rights offering to lay the groundwork for our leap to becoming a top-tier global CDMO," CEO John Rim said. He added that the company will pursue what it calls its three-axis expansion, building out production capacity, portfolio and geographic reach, to boost corporate value.Samsung Biologics expects to close the PolyPeptide deal by year-end, carrying its business past antibody drugs, messenger RNA and antibody-drug conjugates into peptides. PolyPeptide's plants in Europe, the US and India would give Samsung Biologics a global network of manufacturing capacity, the company said.The Songdo campus anchors that capacity buildout. Samsung Biologics brought one 180,000-liter plant online last year and plans to bring three more of the same size online in succession. Once complete, the four plants would lift the company's total antibody-manufacturing capacity to 1.385 million liters.Citing intensifying competition in the global CDMO industry and broader economic uncertainty, the company said the offering locks in growth capital now while preserving flexibility for future investment.Shareholders can subscribe for new shares Nov. 9-10, and any shares left over will go to a general public offering. The listing is targeted for Nov. 30.