[Special Stock] Wellbiotech and HumanN Rise on Russia's COVID-19 Vaccine 'Covivac' WHO Prequalification Application

[Asia Economy Reporter Jang Hyowon] Wellbiotech and HumanN, which have invested in the related project, are showing strong performance following news that Russia's next-generation COVID-19 vaccine 'KoviVaK' has applied for prequalification evaluation with the World Health Organization (WHO).

As of 1:57 PM on the 6th, Wellbiotech is trading at 3,915 KRW, up 7.55% from the previous day. HumanN is trading at 11,650 KRW, up 3.56%.

Wellbiotech and HumanN each invested 7 billion KRW in MPC (MP Corporation), a special purpose company established in Korea for the KoviVaK vaccine project. MPC is reportedly in the process of signing a main contract to acquire exclusive rights for domestic contract manufacturing of KoviVaK as well as for distribution in ASEAN countries.

The KoviVaK vaccine, developed by Russia's Chumakov Federal Scientific Research Center, is an inactivated COVID-19 vaccine that combines traditional vaccine manufacturing methods with modern technology and received approval for use from the Russian Ministry of Health in February. As an inactivated vaccine, KoviVaK is expected to have no concerns regarding blood clot symptoms, a representative side effect of existing vaccines, and is anticipated to be effective against recently emerged COVID-19 variants.