Wellbiotech Collaborates with Selbasion to Manufacture and Distribute 'Kovixil-V', a COVID-19 99.9% Inactivation Preventive Agent

[Asia Economy Reporter Jang Hyowon] Wellbiotech announced on the 18th that it has signed a strategic business agreement (MOU) with Salvacion, which developed the COVID-19 99.9% preventive agent 'Covixyl-V', for the production, sales, and distribution of 'Covixyl-V'.

'Covixyl-V' is a product that neutralizes or kills the coronavirus, various coronavirus variants, and bacteria in the nasal cavity, the primary infection route in the human body. It is currently awaiting emergency use authorization from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), and is preparing to apply for sales approval from the Korea Ministry of Food and Drug Safety.

Salvacion USA Inc., under the U.S. National Cancer Institute of the National Institutes of Health, jointly researched and developed 'Covixyl-V'. Salvacion, as the parent company, holds the production and sales rights for 'Covixyl-V' in Korea and the Asian region.

Through this business agreement, Wellbiotech and Salvacion plan to collaborate on the domestic and international manufacturing, sales, and distribution of 'Covixyl-V'. Wellbiotech will be responsible for part of the production of 'Covixyl-V', and its subsidiary, Nice Pharm, a pharmaceutical production and distribution company, will cooperate on domestic and international sales, while its international logistics subsidiary, Roadstar CN Air, will handle domestic and international distribution cooperation.

A Wellbiotech official stated, "The nasal spray effectively blocks virus entry in the nasal cavity, making it effective in preventing infection spread and, above all, convenient. At this point, as we transition to a COVID-19 endemic phase, many domestic and international companies are developing nasal sprays, and 'Covixyl-V' is a product proven safe and effective through tests by leading clinical institutions in the U.S., currently awaiting approval from the U.S. FDA and European EMA."

He added, "Since we have extensive competitiveness in pharmaceutical sales, distribution, and international logistics through our subsidiaries, we will continue close cooperation with Salvacion regarding 'Covixyl-V'."

Meanwhile, Wellbiotech is engaged in various COVID-19 related businesses such as diagnostic kits and therapeutics. It exclusively supplies SD Biosensor's COVID-19 self-diagnostic kits to the three major domestic convenience store chains GS25, CU, and Emart24. Last year, it signed a business agreement with Iworld Pharm, which is jointly developing the oral COVID-19 therapeutic 'NANUM-101' with Nanum Pharmaceutical, regarding domestic sales, and in September, it acquired convertible bonds of Iworld Pharm.