[K-Bio Big Data Awards] From Development to Production and Export, the 'Vaccine King'

by Choi Daeyul

Published 05 Nov.2020 09:50(KST)

Asia Economy Grand Prize - SK Bioscience

[K-Bio Big Data Awards] From Development to Production and Export, the 'Vaccine King'

[Asia Economy Reporter Choi Dae-yeol] The keyword representing SK Bioscience was undoubtedly 'vaccine.' There are only a handful of places worldwide capable of directly developing, producing, and exporting vaccines. Since the early 2000s, the company has focused on prevention and established itself as a vaccine specialist.

In March, when the COVID-19 pandemic was at its peak in Korea, the company was entrusted with a national project for vaccine development, backed by the experience and know-how gained throughout its development process. It also received $3.6 million in research and development funding from the Bill & Melinda Gates Foundation, which has a strong interest in international health issues, to develop a COVID-19 vaccine. Last month, President Moon Jae-in personally visited the company, encouraging the on-site researchers by saying, "We will support you until the end."

Jae-yong Ahn, CEO of SK Bioscience

The company agreed to undertake contract manufacturing if the project by AstraZeneca and Oxford University, which is considered the frontrunner in the COVID-19 vaccine development race involving all major advanced countries, succeeds. SK Bioscience is already producing trial candidate substances used in clinical trials at the final stage.

Additionally, it signed a contract with the U.S. biotech company Novavax covering antigen development, production, and global supply of the vaccine candidate. COVID-19 vaccines are expected to be supplied in earnest after next year, and with SK Bioscience handling both in-house development and contract manufacturing, it is anticipated to have a positive impact on domestic supply and demand.