[Special Stock] Binex Highlights Production with Genexine's Supply of 10 Million Doses of COVID-19 Vaccine

[Asia Economy Reporter Minwoo Lee] Bionex's stock price is on the rise. The news that Bionex will be responsible for production as Genexine plans to supply 10 million doses (single-dose) of its COVID-19 vaccine to Indonesia appears to have drawn attention.

At 9:50 a.m. on the 27th, Bionex's stock price recorded 31,500 KRW, up 3.62% from the previous day. It even rose to 32,400 KRW, up 6.58%, at one point in the morning. Investor sentiment seems to have surged as it was expected to benefit from Genexine's COVID-19 vaccine export news.

Genexine announced on the 27th that it had signed a pre-sale contract to supply 10 million doses (single-dose) of its COVID-19 vaccine candidate (GX-19N) to Indonesia after emergency use authorization.

Accordingly, Indonesian pharmaceutical company PT Kalbe Farma will purchase Genexine's COVID-19 vaccine and sell it locally, paying a portion of the vaccine sales revenue to Genexine as royalties (running royalties). To this end, the two companies submitted clinical phase 2/3 trial plans to Indonesia's Food and Drug Authority (BPOM) last month and are awaiting approval.

Meanwhile, Bionex currently undertakes contract manufacturing of biopharmaceuticals for Genexine, HanAll Biopharma, PharmAbcine, Intron Biotechnology, ABL Bio, Eutilex, Yuhan Corporation, and Boehringer Ingelheim. In May last year, it also produced clinical formulations of Genexine's COVID-19 DNA vaccine candidate. Since Genenbio, SL Vaxgen, Bionex, POSTECH, the International Vaccine Institute, and the Korea Advanced Institute of Science and Technology (KAIST) formed a consortium to participate in Genexine's COVID-19 vaccine development, it is reported that Bionex will also produce Genexine's COVID-19 vaccine.

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