Jinaine Pharm and Ilyang Pharm Sign MOU for "COVID-19 Vaccine R&D and Production Collaboration"

[Asia Economy Reporter Yoo Hyun-seok] Ginaine Pharm announced on the 22nd that it has signed a Memorandum of Understanding (MOU) for joint cooperation in vaccine and pharmaceutical research, development, and production with Ilyang Pharmaceutical.

Ilyang Pharmaceutical is one of the leading domestic pharmaceutical companies with 74 years of experience. It owns a vaccine factory in Eumseong-gun, Chungbuk, which has the largest vaccine production line in Korea, and is developing antiviral vaccines and influenza vaccines. The Yongin plant has GMP facilities for producing general and specialized pharmaceuticals as well as a central research institute. Additionally, Ilyang Biopharm, a subsidiary of Ilyang Pharmaceutical, is equipped with state-of-the-art production facilities meeting the latest cGMP (current Good Manufacturing Practice) standards.

Ginaine Pharm plans to accelerate the development and production of COVID-19 vaccines through collaboration with Ilyang Pharmaceutical. To this end, Ginaine Pharm has already recruited a large number of bio-experts to lead vaccine development.

Recently appointed as an inside director, Kim Joo-hee holds a Ph.D. in Pharmacy from the University of Georgia, USA, and completed doctoral studies in the Department of Life Pharmacy at Ewha Womans University. She is currently a professor at the College of Pharmacy, Ajou University, and is a bio-expert. She is also the developer of the world's first DNA biosensor technology capable of ultra-rapid COVID-19 diagnosis.

Inside director Kim Soo-dong previously served as chairman of SH Pharmaceutical Group, the Gyeonggi Science and Technology Information Council, and as a lead professor at the Ministry of Science and ICT. He currently serves as an evaluation committee member at the Ministry of Food and Drug Safety and as a professor at Ajou University Graduate School of Pharmaceutical Clinical Sciences.

Park Kyung-nam, recruited as an outside director, has experience at Green Cross, Verna Biotech Korea, Jeonnam Biomedical Research Center, and Hanwha Chemical, and currently serves as the head of production at Ilyang Pharmaceutical’s Eumseong plant. Ginaine Pharm expects that synergy effects will be maximized not only in vaccine research and development but also in the production process based on experts in the pharmaceutical and bio fields.

A company official stated, “Ilyang Pharmaceutical is the first domestic company to successfully produce both therapeutics and vaccines by succeeding in flu vaccine production,” adding, “We plan to accelerate COVID-19 vaccine research, development, and production based on Ilyang Pharmaceutical’s R&D and production capabilities and Ginaine Pharm’s core R&D personnel and technology.”

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