SK bioscience invests KRW 4.1B stake in a U.S. biotech

"Has core conjugate technology, including pneumoniae…we always expect an increase in immunogenicity·productivity"

"Has invested in three global companies this year…will continue to execute the strategy to grow"

SK bioscience announced on October 8th that the company has signed an agreement to acquire a stake in U.S.

 

biotech Fina Biosolutions by investing USD 3 million (approximately KRW 4.1 billion).

 

SK bioscience became the first and only strategic investor of Fina Biosolutions.

 

According to the contract between both companies, the specific stake acquisition size remains undisclosed.

 

According to SK bioscience, Fina Biosolutions, established in 2006, has the core technology of conjugate vaccines for pneumoniae, meningococcus and typhoid.

 

Fina Biosolutions is known to manufacture 'CRM197 (cross-reacting material),' a protein carrier important for the conjugate vaccine development, and produce it in high yield.

 

CRM197 conjugates to antigens that induce infectious disease prevention and enhance immune responses.

 

Fina Biosolutions has developed 'EcoCRM' to enhance productivity, which is higher than that for CRM197, using its in-house expression system and filtration technology.

 

Additionally, the company is researching to increase immunogenicity and productivity using the next-generation CRM197 technology, which targets an antigen-binding site.

 

Fina Biosolutions provides various carrier proteins, including CRM197, in collaboration with various biotech companies and agencies, including the U.S.

 

Inventprise and companies in China and India.

 

Furthermore, the company is expanding its business by providing antigen·dextran (carbohydrate-derived polysaccharides) conjugate service using its specialty in conjugate technology.

 

SK bioscience, which owns conjugate vaccines for pneumoniae·typhoid, plans to utilize Fina Biosolutions' CRM197 technology.

 

The company aims to increase profitability by securing the high preventative benefits of conjugate vaccines and high-yield production.

 

"We appreciate the confidence shown by SK bioscience," Fina Biosolutions CEO Andrew Lees said.

 

"With the investment agreement, we anticipate acceleration of global commercialization and conjugate vaccine development." "We are pleased to continuously pursue the partnership opportunities with global companies that have next-generation vaccine technologies," Jaeyong Ahn, CEO of SK bioscience.

 

"Thorugh long-term collaboration with Fina Biosolutions, we will enhance the quality of vaccines in development and enhance our competitiveness for global entry." SK bioscience has recently made active investments to create a synergy with global companies with technologies.

 

The company also signed an agreement to acquire the business rights of a German company, 'IDT Biologica,' which ranked among the top 10 global vaccine CMOs in June and wrapped up the acquisition process earlier this month.

 

In June SK bioscience conditionally acquired a stake in a U.S.

 

biotech company, 'Sunflower Therapeutics.' Sunflower Therapeutics has its own 'yeast-based culturing system' required for antigen·antibody development.

 

"We plan to continue securing competitiveness by making investments and M&As in companies with superior technologies to establish steppingstones as a global company," SK bioscience personnel said.