Samsung Biologics to Produce Moderna Vaccine in Q3... Hanmi Signs Total of 4 Contracts and MOUs
[Sejong=Asia Economy Reporter Kwon Haeyoung] Following President Moon Jae-in's visit to the United States, cooperation between the South Korean and U.S. governments and companies is being strengthened to advance South Korea as a global vaccine hub.
On the 22nd (local time), the leaders of South Korea and the U.S. agreed during their summit to establish a comprehensive "KORUS Global Vaccine Partnership."
The two countries decided to combine the U.S.'s outstanding vaccine development technology and raw material supply capabilities with South Korea's biopharmaceutical production capacity to accelerate the global production and supply of COVID-19 vaccines. They also agreed to enhance scientific and technological cooperation to strengthen global health security and infectious disease response capabilities. To support this practically, they agreed to establish a "KORUS Global Vaccine Partnership Expert Group" composed of scientists, experts, and government officials.
As part of this strengthened vaccine cooperation between South Korea and the U.S., the Ministry of Trade, Industry and Energy and the Ministry of Health and Welfare held a "KORUS Vaccine Partnership" event on the morning of the 23rd at the Willard InterContinental Hotel in Washington DC, with President Moon Jae-in in attendance. Attendees included Minister Kwon Deok-cheol of the Ministry of Health and Welfare, Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy, SK Chairman Chey Tae-won, Samsung Biologics CEO John Rim, U.S. Secretary of Health and Human Services Xavier Becerra, Novavax Chairman Stanley Erck, and Moderna CEO St?phane Bancel. During the event, four contracts and memorandums of understanding (MOUs) were signed between the governments and companies of both countries.
First, Samsung Biologics and Moderna signed a contract for the contract manufacturing of COVID-19 vaccines. Under this contract, Samsung Biologics will produce hundreds of millions of doses by filling Moderna's COVID-19 vaccine bulk drug substance into finished products and supply them worldwide. After technology transfer and trial production, mass production is expected to begin in the third quarter of this year.
Next, the Ministry of Trade, Industry and Energy, the Ministry of Health and Welfare, and Moderna signed an MOU to discuss potential investment and production cooperation in South Korea. Moderna will strive to invest in mRNA vaccine production facilities and hire personnel in South Korea, while the South Korean government will support Moderna's investment activities and business cooperation within the country. This MOU is expected to accelerate discussions on Moderna's investment in South Korea and contribute to enhancing South Korea's infectious disease response capabilities if the investment materializes.
Cooperation in production and research and development among the government, Novavax, and Moderna will also be actively promoted. First, the Ministry of Health and Welfare, SK Bioscience, and Novavax signed an MOU on vaccine development and production. Novavax's vaccine is a recombinant protein-based vaccine, and the company is currently developing vaccines targeting COVID-19 variants and combined influenza vaccines. The government expects that public-private cooperation with Novavax will help develop next-generation vaccines to respond to variants and ensure stable vaccine supply using SK Bioscience's domestic production facilities.
Additionally, the National Institute of Health under the Korea Disease Control and Prevention Agency signed an MOU with Moderna for research cooperation related to mRNA vaccines. Specifically, they agreed to collaborate on developing mRNA vaccine research programs and conducting preclinical and clinical studies to respond to infectious diseases with high demand and disease burden in South Korea, such as COVID-19 variants and tuberculosis.
Meanwhile, on the 21st, the day before the KORUS Vaccine Partnership event, Minister Kwon Deok-cheol of the Ministry of Health and Welfare held a preliminary bilateral meeting with U.S. Secretary of Health and Human Services Xavier Becerra.
Efforts to expand health and medical cooperation between South Korea and the U.S. to contribute to global health security and strengthen health governance will also be intensified. The two countries agreed to strengthen activities under the Global Health Security Agenda (GHSA), with South Korea pledging to provide $200 million in new funding over the next five years. They will cooperate to establish a new "health security financing mechanism" and promptly revise the health and medical cooperation MOU between the two countries' health ministries to include vaccine and pharmaceutical development for emerging infectious diseases, digital healthcare, and the biohealth industry.
Minister Kwon Deok-cheol of the Ministry of Health and Welfare stated, "Following President Moon Jae-in's visit, cooperation between South Korea and the U.S. on COVID-19 vaccines has been further strengthened. If South Korea, with its world-class pharmaceutical production capacity, collaborates with the U.S., which possesses the world's best vaccine development technology, it will greatly help not only in the rapid production and supply of vaccines to swiftly overcome COVID-19 worldwide but also in South Korea's leap forward as a global vaccine hub."
Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy said, "I hope that South Korea, which is growing into a global production hub through steady corporate investment, and Moderna and Novavax, which started as biotech ventures and have grown significantly, will become leaders driving innovation through their cooperation. The Ministry of Trade, Industry and Energy will actively support the establishment of a stable ecosystem across the industry by fostering raw material companies, attracting investments from leading global companies, and training bio-process personnel."
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