[Featured Stock] Prestige Bio, Major Global Production Base for Russian Vaccine... Solving Vaccine Shortage with Patent Technology

[Asia Economy Reporter Hyungsoo Park] Prestige Biologics is showing strength. It appears that the government's consideration of introducing the Russian COVID-19 vaccine has influenced the stock price.

At 9:45 a.m. on the 22nd, Prestige Biologics was trading at 19,950 KRW, up 6.68% from the previous day.

Prestige Biopharma is also strong.

It is reported that President Moon Jae-in has instructed to review the possibility of introducing the Russian COVID-19 vaccine, 'Sputnik V.' A Blue House official stated, "Since there are concerns about vaccine supply, the presidential aides suggested that it is necessary to consider the introduction of the Russian vaccine, and President Moon said, 'Do so'."

A related company of Prestige Biologics, Prestige Biopharma, will participate as a consortium member in the technology transfer contract for the production of the Russian COVID-19 vaccine ‘Sputnik V’.

Sputnik V is a COVID-19 preventive vaccine developed by the Gamaleya National Research Center of Epidemiology and Microbiology under the Russian Ministry of Health. The contract is proceeding in the form of participation as the dedicated supplier of the drug substance (DS) in the production contract consortium led by Huons Global Co., Ltd.

The Prestige Biopharma Vaccine Center, which began construction in March, is being built with the goal of proactive response to COVID-19 and future infectious diseases. The vaccine center is scheduled for trial operation in August this year. From September, it aims to start full-scale production with the world’s first 2,000-liter batch culture scale, pushing forward technology transfer and related preparations. Prestige Biopharma plans to utilize a significant portion of the total production capacity of 100,000 liters after entering full production, producing 100 million doses per month to meet the consortium’s demand, starting with the technology transfer contract signed this time. Through this, it plans to become an important production base for the global supply of Sputnik V.

It is expected that mass vaccine production will be possible in a short time by utilizing the ALITA Smart Biofactory single-use system, a patented technology of the affiliate Prestige Biologics. The ALITA Smart Biofactory is the world’s first process operation system based on digital artificial intelligence, minimizing real-time process deviations and human errors, and improving production efficiency as a future engineering system.

Park So-yeon, CEO of Prestige Biopharma, said, “We are pleased and feel a heavy responsibility to participate in the production and development cooperation of Sputnik V, the world’s first approved COVID-19 preventive vaccine.”

She added, “Starting with this vaccine production, we aim to directly develop vaccines that can respond to future emerging infectious diseases.” Furthermore, she emphasized, “We are proud to fulfill our social responsibility as a company possessing related technology for vaccine production to help eradicate COVID-19, the hope of people worldwide.”