Wellbiotech "Geumyoung ENG Discusses Cleanroom Facility Construction for Russian Vaccine 'Covivac' Production"

[Asia Economy Reporter Hyunseok Yoo] Wellbiotech, a KOSPI-listed company, announced on the 21st that it has begun multifaceted business discussions for the production of the next-generation COVID-19 vaccine "Covivac," developed by Russia's Chumakov Institute.

On the 18th, senior developers from the Chumakov Institute visited Wellbiotech to discuss business matters related to the production of the "Covivac" vaccine, including ▲ cleanroom facility construction ▲ pharmaceutical and bio distribution systems utilizing cold chain logistics.

During the visit, Aidar Ishmukhametov, Director of the Chumakov Institute, and Konstantin Chernov, Deputy Director, reviewed the business division of Kumyoung ENG. It is reported that they focused on the construction of cleanroom facilities with BSL-3 (Biological Safety Level) certification, which will be necessary for Covivac production in the future.

In addition, Wellbiotech continued multifaceted business discussions with the Chumakov Institute regarding the cold chain transportation systems owned by its other subsidiaries, Roadstar C&A and Nice Pharm, as well as distribution capabilities in the pharmaceutical and bio sectors.

Wellbiotech CEO Sehyun Koo stated, "Since the domestic business of the COVID-19 vaccine 'Covivac' reviewed by the Chumakov Institute during this visit is being positively evaluated in many aspects, broad discussions were held regarding comprehensive facilities and distribution systems for related future businesses. We plan to actively cooperate in the successful production and distribution of the Covivac vaccine by continuously discussing any shortcomings through future non-face-to-face meetings and mobilizing all of Wellbiotech’s business capabilities."

"Covivac" is a COVID-19 vaccine developed by Russia's Chumakov Institute, which received approval for use from the Russian Ministry of Health in February. Currently, Covivac has entered Phase 3 clinical trials at major hospitals in seven cities across Russia. It is an inactivated vaccine developed by combining traditional vaccine manufacturing methods with modern technology, and it is evaluated to have significantly reduced the risk of side effects.