[Featured Stock] Qurocom, SeedMogen Selected as Welfare Ministry COVID-19 Vaccine Infrastructure Provider, Gains Strength... "Smagen Cooperation Highlighted"

[Asia Economy Reporter Yoo Hyun-seok] Qurocom is showing strong performance. It appears to be influenced by the news that Seedmozen, a vaccine and biopharmaceutical contract development and manufacturing organization (CDMO), has been finally selected as the Ministry of Health and Welfare's messenger ribonucleic acid (mRNA) COVID-19 vaccine facility and equipment construction project operator. Seedmozen previously signed a comprehensive service contract for 'COVID-19 vaccine clinical sample production' with Smagen, an affiliate of Qurocom.

As of 12:39 PM on the 8th, Qurocom was trading at 1,545 KRW, up 6.92% (100 KRW) compared to the previous trading day.

On the same day, Seedmozen announced that it had been finally selected as the Ministry of Health and Welfare's messenger ribonucleic acid (mRNA) COVID-19 vaccine facility and equipment construction project operator.

The selection of the mRNA COVID-19 vaccine facility and equipment construction project operator is a project implemented by the Ministry of Health and Welfare, which secured supplementary budget to address the urgency of domestic COVID-19 vaccine production.

The company explained that this result was due to being recognized as a qualified company among bio-pharmaceutical CDMO candidates with GMP manufacturing and quality evaluation suitability certification, as well as experience in COVID-19 vaccine production.

Seedmozen is accelerating the establishment of mRNA vaccine GMP manufacturing and quality control facilities and equipment at its second manufacturing plant under construction in Osong (located within the Osong Advanced Medical Complex). In 2022, it plans to focus its capabilities to contribute as a specialized CDMO to the establishment of vaccine sovereignty led by national vaccine supply and export by enabling mRNA vaccine CDMO consignment services.

Meanwhile, in August 2020, Seedmozen signed a comprehensive service contract with Smagen, which possesses a vaccine development platform technology using vectors, for the production of clinical phase 1 samples of recombinant VSV (rVSV)-based COVID-19 vaccines.

At that time, Seedmozen stated that through this contract with Smagen, it planned to handle all areas from production cell bank manufacturing to clinical phase 1 production. Seedmozen intends to provide one-stop consignment services by manufacturing GMP production cell banks and master virus banks, while simultaneously establishing GMP manufacturing processes and quality evaluation analytical methods for rVSV vectors used in clinical trial vaccine production.

Meanwhile, according to this year's semi-annual report, Qurocom holds a 64.78% stake in Smagen.