[Interview] Heo Kyunghwa, CEO of KIMCo: "Targeting Domestic mRNA Vaccine Rollout Next Year... Accelerating Pharmaceutical Powerhouse Through Public-Private Cooperation"

Interview with Heo Kyunghwa, CEO of Korea Innovative Pharmaceuticals Consortium

Hanmi, ST Pharm, and Green Cross join K-mRNA Consortium
"The door to cooperation is always open"

TBM Overseas Expansion Support Project, Domestic Partnership Achievements
"We must create a successful public-private cooperation case for the future pharmaceutical powerhouse"

Heo Kyunghwa, CEO of KIMCo (Photo by KIMCo)

"It is true that domestically produced messenger ribonucleic acid (mRNA) COVID-19 vaccines are latecomers in the global market. However, we have designed them to have at least equal or superior efficacy compared to already approved mRNA vaccines, as well as advantages in price and distribution."

Heo Kyunghwa, CEO of the Korea Innovative Medicines Consortium (KIMCo), explained this during an interview with Asia Economy at the headquarters in Seocho-gu, Seoul on the 9th. The ‘K-mRNA Consortium,’ which includes Hanmi Pharmaceutical, ST Pharm, and GC Green Cross, is receiving attention inside and outside the industry as KIMCo’s greatest achievement in its first year since launch.

CEO Heo presented the goal of starting phase 1 clinical trials for the domestic mRNA COVID-19 vaccine by the end of this year through the consortium and obtaining emergency use authorization in the first half of next year. The plan is to produce over 100 million doses for nationwide vaccination in the second half of 2022. He stated, "By 2023, we will establish an mRNA platform capable of rapid response not only to COVID-19 variants but also to new pandemics, and build a mass production system. By 2025, based on the flexibility of the mRNA platform, we will develop cancer vaccines and next-generation innovative drugs," expressing his ambition.

To overcome the handicap of being a latecomer, the blueprint is to create a vaccine that captures three key aspects: vaccine efficacy, cost-effectiveness, and distribution convenience. CEO Heo explained, "We optimized the mRNA molecular structure to maximize vaccine efficacy by increasing antigen expression rates and enhanced cellular immunity to boost immunogenicity. From an economic perspective, we carefully designed the vaccine from the start to enable more than 30% cost reduction by independently developing the core technology of cap analogs." The vaccine is being developed in a formulation that maintains stability for distribution even at -20 degrees Celsius.

The journey to secure a domestic mRNA vaccine started with three major pharmaceutical companies at the core, but the door for collaboration remains open. He said, "Currently, there are global difficulties in the supply of raw and subsidiary materials, so we believe there are places where synergies can be created," adding, "It is an ‘open consortium’ where nothing is impossible."

On the whiteboard in CEO Heo’s office is the phrase ‘Your Platform for Collaboration.’ This highlights that all of KIMCo’s actions over the past year, including the development of the domestic COVID-19 vaccine, have been centered on ‘collaboration.’ CEO Heo self-assessed, "We started with the goal of pooling industry capabilities to succeed in projects that individual companies find difficult to pursue independently, and we have achieved considerable results over the past year." In fact, KIMCo was selected in April as the executing agency for the Ministry of Trade, Industry and Energy’s ‘Global Expansion-Type Formulation Technology-Based Improved Drug (TBM) Development’ project. Recently, it was also named as the operating agency for the Ministry of SMEs and Startups’ ‘Pharmaceutical Specialized Smart Factory Construction Support Project’ and as the service provider for the Ministry of Food and Drug Safety’s ‘Pharmaceutical Design-Based Quality Advancement (QbD) System Introduction Support Project.’ Government policy funds supported to the industry over the past year have reached 28 billion KRW.

Among these, CEO Heo cited the TBM overseas expansion support project as the most representative achievement demonstrating KIMCo’s role. Seven companies of different sizes, from large corporations to SMEs, have come together. He said, "It is meaningful that we formed partnerships by connecting large pharmaceutical companies with expertise in development, approval, production, and global expansion with small and medium pharmaceutical bio companies that have competitive research capabilities." He added, "Technology-based medicines can be commercialized within 3 to 5 years, making this a preliminary battle for Korea’s leap to a pharmaceutical powerhouse, ahead of innovative new drugs that are difficult to compete with immediately."

Building a public-private cooperation ecosystem, as exemplified by the collaboration cases driven by the COVID-19 crisis, is KIMCo’s mid- to long-term goal. Since stakeholders have different interests, CEO Heo’s analysis is that successful cases based on collaboration must accumulate. He pointed out, "Due to structural problems in Korea’s new drug development capital market, there is a focus on early-stage technology exports, which is like a ‘shortened marathon.’" He emphasized, "To become a pharmaceutical bio powerhouse, efforts are needed to complete the entire cycle from phase 3 trials to global commercialization," and proposed "the formation of a public-private consultative body and the establishment of a mega fund, with KIMCo actively contributing to this process."

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