NextScience "NanoGen Plans Mass Production of COVID-19 Vaccine by May Next Year"

[Asia Economy Reporter Yoo Hyun-seok] “Nanocovax, made through recombinant protein subunit, will be a vaccine that induces a strong immune response and is effective even against highly mutated coronavirus variants.”

On the 14th, according to Next Science, Ho Nhan, chairman of Nanogen, a Next Science affiliate and the only Vietnamese company approved for COVID-19 vaccine clinical trials, stated this in an interview with local Vietnamese media.

Nanogen, in collaboration with the Vietnamese Military Medical Academy, will begin administering the vaccine to 60 volunteers starting on the 17th. Phase 2 clinical trials are scheduled to begin in February next year, and the company plans to establish a mass production system for Nanocovax by May to expand clinical trials.

Additionally, to facilitate smooth vaccination, the annual production capacity of Nanocovax will be increased from the current 2 million doses to 30 million doses within six months. Currently, Nanogen is negotiating with the Vietnamese Ministry of Health for health insurance coverage of Nanocovax, with the price expected to be around 500,000 VND per dose (approximately 21.62 USD). The vaccination will be administered twice at one and a half month intervals.

Nanogen’s COVID-19 vaccine, Nanocovax, is made using a recombinant protein subunit. Although recombinant protein vaccines are more challenging to develop and take relatively longer to manufacture compared to mRNA vaccines, they have advantages such as higher immune response rates, safety, fewer side effects, and easier storage.

From Phase 3 clinical trials, Nanogen plans to expand trials not only in Vietnam but also in Bangladesh, Malaysia, and Southeast Asia, aiming to promote overseas exports of Nanocovax.

Nanogen is also a member of the HLB Bio eco-System (HBS), the bio ecosystem of the HLB Group. HBS is a system where domestic and international bio affiliates within the HLB Group, centered on HLB, organically cooperate through their respective networks.

Jin Yang-gon, chairman of HLB, announced the HBS system in March through Open Innovation, where HLB affiliates invest and collaborate on pipelines. The recent success of Nanogen’s COVID-19 vaccine can be seen as a representative example of HBS beginning to take root.

According to the Vietnamese securities industry, Nanogen’s corporate value is currently 5.1 trillion VND (approximately 220 million USD), and it is expected to increase significantly as COVID-19 vaccine clinical trials progress. Next Science holds a 10.4% stake in Nanogen.

A Next Science official said, “Amid ongoing global concerns about the spread of COVID-19 and disruptions in therapeutic vaccine supply, we are very pleased that our Vietnamese affiliate Nanogen has entered therapeutic vaccine clinical trials,” adding, “As the HBS system is fully activated, we are confident that the synergy effect among bio affiliates within the HLB Group will be greatly enhanced.”

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