SK bioscience is taking the fight against the COVID-19 pandemic to the next level with a strategic equity investment into Novavax to bolster their partnership and battle the endemic. Furthermore, the companies are also extending their existing license agreement for Novavax’s updated COVID vaccine. With this move, SK bioscience and Novavax are shifting the focus from contract manufacturing to a commercialization model to take on the virus head on.
SK bioscience, a renowned vaccine and biotech company, has taken a major step towards safeguarding public health by investing 6.5 million shares in Novavax, an eminent global company working towards developing groundbreaking protein-based vaccines along with its revolutionary Matrix-M™ adjuvant. This decision of acquiring equity investment was approved by the board of directors of SK bioscience. This progressive move will undoubtedly enhance the company’s ability to provide comprehensive protection from prevention to cure.
Seeking to transition from a pandemic-formed CMO/CDMO partnership into a long-term synergy for the endemic era, SK bioscience recently made a strategic equity investment into the two companies. Both are now poised to take advantage of this collaboration and reap the rewards accordingly.
SK bioscience and Novavax have renewed their partnership, taking it from the pandemic to the endemic phase. As part of the agreement, SK bioscience will have exclusive rights to Novavax’s updated COVID-19 variant vaccine for South Korea, and non-exclusive rights in Thailand and Vietnam for the supply and commercialization of the vaccine. To cap their renewed collaboration off, the two companies announced a new equity investment today.
At L HOUSE, SK bioscience is leveraging Novavax’ proprietary variant strain antigens and Matrix-M adjuvant to engineer and distribute revolutionary vaccine and drug substance products—including pre-filled syringes—to markets around the globe.
John C. Jacobs, President and CEO of Novavax, lauded SK bioscience’s recent investment in the company, hailing it as a testament to their mutual understanding and collaboration. He described it as “a productive multiyear relationship through which the companies have come to know each other’s strengths well.” The shared objective of both parties is to deliver life-saving vaccines to the region, and Novavax looks forward to utilizing this promising partnership to continue enhancing the value of both companies and their stakeholders.
Jaeyong Ahn, CEO of SK bioscience, is confident that the strategic equity investment and ongoing cooperation between SK bioscience and Novavax – both of which are committed to developing COVID-19 vaccines – will have a positive and powerful impact. He’s determined to build a successful global partnership that will promote health, support company growth, and equip us to respond to the next pandemic.
SK bioscience and Novavax recently announced an enhanced partnership to explore potential future collaborations – one such project being the utilization of Novavax’s patented adjuvant, ‘Matrix-M,’ in future vaccine formulations. Providing a progressive push in the vaccine field, Novavax is also developing combinations of COVID-19 and Flu vaccines, stand-alone Flu vaccines, and high-dose COVID-19 vaccines. This powerful partnership aims to further augment their pursuit in the widening world of disease prevention and protection against future pandemics.
SK bioscience Corporate Strategy
As the COVID-19 pandemic shifts to the endemic era and the annual vaccination market takes shape, SK bioscience is leveraging its extended license agreement to set up a preemptive response system in South Korea’s immunization landscape, positioning the country to capitalize on the opportunities of this ever-evolving landscape and bolster its global competitiveness.
SK bioscience is taking a two-pronged approach to meet the ever-evolving vaccine demands. By developing their own vaccines and sourcing ready-made ones from global pharmaceutical companies, the company is forging a path to success and ensuring their ability to provide swift and reliable service. This dynamic strategy will ensure SK bioscience is well-prepared to tackle current and future vaccine needs.
SK bioscience is on the forefront of vaccine development, forging ahead with cutting-edge collaboration initiatives and biopharmaceutical partnerships to develop 21-valent pneumococcal conjugate and mRNA-based vaccines. Beyond simply being a leader in research and development, SK bioscience is actively engaging in an ambitious project to ‘Glocalization’, transplanting vaccine production and knowledgeable R&D personnel to countries in need of modern infrastructures to support vaccine development.
SK bioscience is gearing up for international growth, reaching out to the U.S. and European markets with their newly formed SK bioscience USA. As part of their ambitious expansion plan, they are committed to bringing their innovative offerings to a wider audience around the globe.
About SK bioscience
SK bioscience is a revolutionary biotech company, passionate about promoting human health and equitable access to vaccines across the globe. Through our cutting-edge technologies, we are committed to developing and manufacturing vaccines and providing high-quality public healthcare solutions in partnership with international and domestic governments, regulatory agencies, medical professionals and healthcare providers. Our mission is to facilitate prevention and cure, enabling a healthier future for us all.