JW Biotech "Expectations for Success in Vaccine Development and RNA CMO"

[Asia Economy Reporter Jang Hyowon] GW Biotech's subsidiary Curable (formerly SNP Genetics) announced on the 26th that it will actively pursue new growth businesses through investments in the COVIHILL vaccine and ribonucleic acid (RNA) contract manufacturing organization (CMO) business.

Curable secured important rights in the localization process of the vaccine by acquiring an 8.5% stake in Pharmabiotech Global (hereinafter PBTG), the domestic business license holder of COVIHILL, for 8.5 billion KRW on the 20th.

PBTG holds a sub-license for the COVIHILL vaccine from the Chumakov Institute in Russia and is a Korea-Russia joint venture business entity with comprehensive rights over technology transfer, development, production, product registration, and sales. It was explained that PBTG's business value was evaluated at approximately 470 billion KRW last year by a domestic patent corporation.

The company stated that the technology transfer of the Russian inactivated vaccine is progressing smoothly, and that sufficient profit realization is possible at the point when successful production and overseas exports become a reality. A Curable official said, "The technology transfer of the inactivated vaccine being conducted with the Chumakov Institute is progressing well," and added, "This equity investment will create synergy not only in securing inactivated vaccine production capabilities but also in advancing the core business model of the CMO sector."

The Curable official also said, "We expect vaccine demand to continue following the scheduled lifting of the indoor mask mandate in Korea on the 30th," and noted, "We are also paying attention to the fact that countries around the world are shifting their quarantine systems to a level of 1 to 2 self-paid vaccinations per year."