Entutec "Negotiating Supply Quantity and Price for Moderna Vaccine Distribution"

[Asia Economy Reporter Hyunseok Yoo] N2Tech announced on the 9th that last month it formed a consortium with domestic pharmaceutical companies and new drug developers capable of vaccine distribution and submitted a proposal for the distribution of Moderna's novel coronavirus disease (COVID-19) vaccine.

An N2Tech official stated, "We are currently negotiating and coordinating various aspects for the distribution of the COVID-19 vaccine with Moderna, including supply quantity (Dose), schedule, and price."

The vaccine distribution was significantly influenced by Dr. Robert Langer, who was appointed as an inside director at the extraordinary general meeting of shareholders held on the 6th. Dr. Langer is a founding member of Moderna, a major shareholder, and a board member.

The official added, "Dr. Langer is providing great assistance in negotiations with Moderna," and "After signing a contract with Moderna, we plan to establish a detailed strategy for domestic distribution."

Moderna is preparing for the global launch of its vaccine candidate mRNA-1273. Once the two-month safety test required by the U.S. Food and Drug Administration (FDA) is completed this month, it plans to immediately apply for emergency use authorization.

N2Tech aims to establish itself as a leading company related to COVID-19 through the distribution of Moderna's vaccine. Besides the vaccine distribution business, the company is conducting a premium nano mask business with its affiliate N2Cell. Recently, it launched the TinyTAN nano mask featuring characters from BTS.

The official said, "We are accelerating the vaccine and therapeutic distribution business by acquiring a significant stake in DynoNA, a COVID-19 therapeutic developer," and "We have been progressing step-by-step since entering the mask business in the first half of this year." He continued, "The nano mask business, which plays a role in blocking virus infection through the respiratory tract, is progressing smoothly," and emphasized, "We are reviewing various new business ventures based on Dr. Langer's network."

He added, "The recent overheating of the low-priced mask market was anticipated from the early stages of business entry, and our efforts focusing on the premium mask market will show substantial performance growth."

This content was produced with the assistance of AI translation services.