SK bioscience explained the company’s sustainable growth strategy at investors meeting
SK will secure vaccine development
capabilities and expand global network through the new strategy
bioscience announced a future growth strategy to secure global top-tier vaccine
development capabilities on November 1st.
bioscience held a conference for domestic and international financial analyst
and investors. Jaeyong Ahn, CEO of SK bioscience shared tasks and plans of ‘SKBS
3.0,’ a new sustainable growth strategy to leap forward as a global vaccine and
biotech company, advancing into the global market beyond South Korea.
Ahn said “Although it is a difficult situation due to the deterioration of the
internal and external business environment, we are implementing a business
strategy to raise the vaccine R&D and production infrastructure to a global
level in order to meet the expectations of stakeholders. Based on our accumulated
capital and capacities, we will continue to practice the future growth strategy
such as △responding COVID endemic △expanding vaccine
business to global market △acquiring cell and gene
therapy (CGT) and next-generation platform technology △strengthening
global partnership, R&D and manufacturing infrastructure capabilities to
prepare for the next pandemic.”
plans to secure products and technology that will lead the endemic era by utilizing
the platform of SKYCovione™, the first South Korean-developed COVID-19 vaccine.
SKYCovione™ is based on recombinant protein vaccine technology which has been
used for development of current vaccines including influenza, hepatitis B, and
HPV. With proven efficacy and safety, SKYCovione™ can be stored in normal
refrigeration conditions from 2 to 8 degrees Celsius with much longer storage
period. SK bioscience plans to advance the overseas market since SKYCovione™
has proven its effectiveness against Omicron variants when administered as a
bioscience currently also develops a vaccine candidate effective for the entire
Sarbecovirus group to establish a broader protection system against COVID-19
variants and SARS in the future and a combination vaccine candidate that
applies for both flu and COVID-19 at once.
April, SK bioscience also initiated preclinical development of an innovative
binder protein compound designed to prevent and treat COVID-19 when sprayed
into nasal passages with support by international organizations and in
collaboration with world-renowned research institutes, such as International
AIDS Vaccine Initiative (IAVI), Bill & Melinda Gates Foundation and IPD.
of the flu vaccine ´SKYCellflu™’ which was temporarily stopped for
manufacturing SKYCovione™ to overcome the pandemic, will be normalized from
next year. SkyCellflu™, the world´s first cell-cultured quadrivalent influenza
vaccine which has acquired the world first WHO (World Health Organization) PQ
(Pre-qualification) certification as a cell-culture vaccine has the highest
market share in Korea. It is expected to rapidly expand its domestic and
overseas market share along with the resumption of supply.
the world second WHO PQ acquired varicella vaccine, is also planned to be
supplied to the international procurement market. SKYVaricella™ has already
started to be supplied to Latin America by obtaining an order for a chickenpox
vaccine from the Pan American Health Organization (PAHO), an international
organization under the UN at the beginning of this year.
the world second shingles vaccine which has the highest market share in Korea,
in consideration of the introduction of the National Immunization Program(NIP).
addition, SKYTyphoid™, a typhoid vaccine developed in cooperation with the
International Vaccine Institute (IVI), is also planned to be supplied worldwide
after obtaining the WHO PQ.
bioscience will also continue to cooperate with global initiatives.
plans to extend a CDMO of the COVID-19 vaccine with Novavax and secures
additional global CMO and CDMO partners.
expansion toward a global company
plans to further secure technologies in all areas of the cell and gene therapy
(CGT) business to expand its business beyond vaccines to the bio sector. To
achieve, CDMOs of global companies with existing CGT platforms, mergers and
acquisitions (M&A), and establishment of joint ventures (JVs) are being proceeded
addition, SK bioscience will focus on securing the next-generation technology
through partnerships, such as the recently announced agreement to develop the
latest mRNA vaccine platform with international organizations and research
securing the mRNA technology, product development, and platform expansion, SK bioscience
plans to establish a system that can develop vaccines against new infectious
diseases within 100 days and supplies them within 6 months with global partners,
including Bill & Melinda Gates Foundation, CEPI, and Hilleman Laboratories.
SK bioscience also operates ‘Glocalization’ project
which transfers vaccine development, manufacturing, and production capabilities
to each government and partner companies in the world to establish a vaccine
manufacturing infrastructure for the needs in each region. The
company is currently discussing in detail with various countries in the Middle
East and Southeast Asia and planning to expand the target countries
and quantitative expansion of R&D and production infrastructure are also in
Research and Process Development (R&PD) Center in Songdo will be
established to operate as a base for the global network and to sequentially
secure the infrastructure for all areas of biopharmaceuticals. L-HOUSE, SK’s
vaccine manufacturing plant, located in Andong, South Korea also is also planned
to be expanded its production capacity up to 5 times compared to the current
through large-scale expansion and more world-class production facility
certifications such as US cGMP.
Ahn said, “SK bioscience was able to be what it is today as a result of hard
working with a sense of mission to contribute to humanity when everyone says it
is difficult. We will take the lead in creating an ecosystem for
biopharmaceutical industry and invest strategically to become a global leader
in responding to the next pandemic.”