[2020 National Audit] Urgent Need for Therapeutic Development... Less Than Half of COVID-19 Support Funds Released

[Asia Economy Reporter Cho Hyun-ui] Although the government aims to develop COVID-19 treatments within this year and vaccines by next year, it has been revealed that less than half of the government funding for clinical trials has been disbursed.

According to Jeon Bong-min, a member of the National Assembly's Health and Welfare Committee from the People Power Party, only about 40% (37 billion KRW) of the 94 billion KRW budget for COVID-19 vaccine and treatment clinical support (45 billion KRW for treatments, 49 billion KRW for vaccines) has been spent.

Only three companies received the support funds for vaccines and treatments. Most of the funding was concentrated among large corporations such as Celltrion and GC Green Cross. Of the total 45 billion KRW clinical support budget for treatments, 21.9 billion KRW and 5.8 billion KRW were used for Celltrion's antibody treatment 'CT-P59' and GC Green Cross's plasma treatment 'GC5131', respectively. For the 49 billion KRW vaccine clinical support budget, 9.27 billion KRW was spent on Genexine's candidate substance 'GX-19'.

Although 20 companies applied in the government-wide public offering conducted in July for COVID-19 vaccine and treatment clinical support, only three passed the screening by the inter-ministerial support group, which contrasts with the fact that health authorities have approved 26 related clinical trials.

A total of 26 vaccines and treatments have received clinical trial approval related to COVID-19 from the Ministry of Food and Drug Safety. Excluding six that have completed trials, almost all treatment substances applied for clinical support funds, but only 15% received funding.

Assemblyman Jeon said, "The government announced it would develop COVID-19 treatments within this year, but the execution rate of the clinical support budget is around 40%. Additional funding should be promptly provided for ongoing clinical trials."