Curatis is set to actively enter the Iraqi vaccine market.
Curatis announced on the 11th that it has signed a Term Sheet outlining the direction and key transaction terms of a vaccine platform technology cooperation project among three parties: the Authority of Health and Medical Education under the Imam Hussain Holy Shrine Foundation in Iraq, the Korea-Iraq Friendship Foundation, and Curatis.
This Term Sheet marks the first milestone phase to officially proceed with the vaccine platform technology license and the establishment of a local vaccine factory and research institute in Iraq. It includes transaction terms worth 25 billion KRW, covering consulting on the most effective vaccine manufacturing plant construction plan tailored to the Iraqi situation and vaccine platform technology development. The company expects that once the local vaccine factory construction in Iraq begins in earnest, the business scale will reach several hundred billion KRW.
A Curatis representative stated, "A particularly noteworthy aspect of this contract is the inclusion of a contract for the development of endemic disease vaccines, which are essential requirements locally in Iraq," adding, "Since there are no commercialized preventive vaccines for endemic diseases, Curatis’ vaccine development is expected to contribute to overcoming these illnesses." The representative also mentioned that to secure the most effective vaccine manufacturing plant for the Iraqi context, preliminary consulting will be provided, including a workforce training plan aimed at cultivating specialized personnel for biopharmaceutical development and manufacturing in Iraq.
Iraq, endowed with various underground resources, is a country with great development potential and has seen remarkable economic revitalization due to high oil prices. Domestic medical demand has continuously increased, and interest in vaccines has grown through the COVID-19 pandemic. The Imam Hussain Holy Shrine Foundation is one of the most authoritative and influential institutions in Iraq, overseeing several authorities under its umbrella. Among them, the Authority of Health and Medical Education governs all aspects of healthcare in Iraq, including pharmaceuticals, pharmaceuticals, education, medical devices, medical supplies, and public health, and holds a network of major hospitals in Iraq.
The relationship between Curatis and the Iraqi government began through the Korea-Iraq Friendship Foundation. Established in 2009, the Korea-Iraq Friendship Foundation has promoted projects such as treatment for Iraqi child patients and cooperation exchanges between Korean and Iraqi politicians. Curatis, which owns its own production facility (Osong Bio Plant) and has obtained KGMP (Korean Good Manufacturing Practice) certification, was an optimal partner for technology licensing and consulting sought by the Iraqi government in its vaccine partnership efforts.
In August 2020, Curatis completed a large-scale state-of-the-art bio plant with research facilities and cGMP, EU GMP, and KGMP-level standards in the Osong Advanced Medical Complex in Chungbuk, establishing manufacturing facilities for injectable products including vaccines. This plant enables large-scale GMP production of proteins, peptides, DNA, RNA, enzymes, and microbiomes.
Curatis is actively developing various technologies targeting multiple diseases, including the world’s first adult and adolescent tuberculosis vaccine as its flagship product, an immune adjuvant platform technology applicable to various therapeutic areas, and an mRNA platform technology capable of producing various vaccines and personalized treatments.
Recently, Curatis has been advancing the development of the world’s first schistosomiasis vaccine, contributing to global public health and fulfilling corporate social responsibility through the development of vaccines for neglected diseases.
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