HumanN invests 7 billion KRW in Russian 'Covivac' vaccine project
[Asia Economy Reporter Yoo Hyun-seok] HumanN, a KOSDAQ-listed company, announced on the 16th that it has acquired convertible bonds worth 7 billion KRW from MP Corporation (hereinafter ‘MPC’), which is promoting the Russian 3rd generation vaccine CoviVac business.
MPC had been negotiating for several months regarding the domestic production rights, distribution rights, and ASEAN distribution rights of CoviVac. Last month, Russian CoviVac officials visited Korea to explore CMO production with Andong Animal Cell Validation Support Center and Green Cross, according to sources.
The Chumakov Institute in Russia, which developed CoviVac, and CoviVac officials stated, "We plan to revisit Korea soon to sign the main contract regarding consignment production and distribution rights in Korea."
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Meanwhile, HumanN raised an investment of 10 billion KRW through the 11th series of convertible bonds on the 13th, of which 7 billion KRW was invested in MPC. The goal is to create strategic partnerships and generate profits in the CoviVac vaccine business going forward.
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