SK Bioscience Throws Hat in the Ring for IPO: "Leading the Market by Integrating R&D, Production, and Distribution"

"Possessing In-House Technology, Production Facilities, and Distribution... Aiming to Become the 'Game Closer'"

Jae-yong Ahn, CEO of SK Bioscience

[Asia Economy Reporter Minwoo Lee] SK Bioscience, which is preparing for its IPO, emphasized that it will continue to grow by encompassing research and development (R&D), production, and distribution in the vaccine and biopharmaceutical markets. The strategy is to enhance competitiveness by comprehensively advancing next-generation vaccines and contract manufacturing organization (CMO) businesses even after the COVID-19 vaccine.

On the 23rd, SK Bioscience CEO Jaeyong Ahn announced this strategy during an online press conference. CEO Ahn explained, "COVID-19 has greatly changed our daily lives as well as the vaccine and biopharmaceutical markets," adding, "We will seize this opportunity to make a 'quantum jump.'"

CEO Ahn cited SK Bioscience’s strengths as its vaccine technology platform and bio process and production platform. The company has secured various vaccine technologies ranging from live attenuated vaccines, inactivated vaccines, synthetic antigen vaccines, conjugate vaccines, to viral vector vaccines, and also possesses diverse production processes including microbial, insect cell, human-derived cell, and animal cell platforms.

Currently, SK Bioscience is advancing COVID-19 vaccine CMO and contract development and manufacturing organization (CDMO) businesses with AstraZeneca and Novavax, respectively. Both vaccines are being produced at the Andong plant. Additionally, through experience in commercializing the 'viral vector' CMO business, the company plans to expand into the biopharmaceutical CMO fields such as immuno-oncology drugs, gene therapies, and cell therapies.

The company also revealed plans to lead the market by adding 'blockbuster' pipelines. The COVID-19 vaccine candidate 'GBP510,' developed with support from the Bill & Melinda Gates Foundation (BMGF) and the Coalition for Epidemic Preparedness Innovations (CEPI), has entered Phase 1 and 2 clinical trials. Another COVID-19 vaccine candidate, 'NBP2001,' is undergoing clinical trials at Seoul National University Hospital and others. Both are expected to enter Phase 3 trials in the third quarter of this year, aiming for commercialization in the first half of next year. CEO Ahn emphasized, "Unlike mRNA vaccines where speed is crucial, we will develop synthetic antigen vaccines that prioritize efficacy, cost-effectiveness, and distribution convenience to become a 'game closer.'"

Meanwhile, SK Bioscience’s total number of shares offered in the IPO is 22.95 million, with a desired offering price range of 49,000 to 65,000 KRW per share. The expected maximum amount to be raised is approximately 1.4918 trillion KRW. Demand forecasting will be conducted over two days, March 4 and 5, targeting domestic and international institutional investors, with the offering price to be finalized. Subscription will take place on March 9 and 10, with the listing scheduled within March.

CEO Ahn expects to secure about 1 trillion KRW through this IPO. Of this, 400 billion KRW will be invested in facility expansion, which is anticipated to significantly boost CMO and CDMO operations. Additionally, 150 to 200 billion KRW will be allocated to next-generation pneumococcal vaccine R&D, 100 billion KRW for platform technology acquisition, and 50 to 100 billion KRW for overseas localization (glocalization) through technology exports. He stated, "SK Bioscience is the only domestic company equipped with world-class vaccine technology and advanced bio production and process platforms," emphasizing, "We will enhance competitiveness by managing quality through a distribution network equipped with temperature sensors at every stage?from warehouses to trucks and boxes."

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