[Click eStock] "Curatis, Business Scale in the Trillions After Full-Scale Construction of Vaccine Factory in Iraq"

On the 12th, KB Securities analyzed that the future construction of a local vaccine factory in Iraq by Quratis is expected to reach a business scale of several hundred billion won once it gets underway.

Kim Hyun-gyeom, a researcher at KB Securities, stated in a report on the same day, “Quratis signed a term sheet regarding the direction and key transaction terms of a vaccine platform technology cooperation project with the Health and Medical Education Office under the Imam Hussain Holy Shrine Foundation in Iraq and the Korea-Iraq Friendship Foundation, as announced in yesterday’s news.”

Researcher Kim said, “This term sheet represents the first milestone step to officially launch the business, including licensing of the vaccine platform and the establishment of a local vaccine factory and research institute in Iraq. In particular, it includes consulting on the construction plan for the vaccine manufacturing plant and transaction terms worth 25 billion won for vaccine platform technology development. If the construction of the local vaccine factory in Iraq proceeds in earnest, the business scale is estimated to reach several hundred billion won.”

He also mentioned that Quratis plans to enter the Philippine tuberculosis vaccine market by expanding financial stability. Quratis decided to raise a total of 16 billion won in funds last month, including 12 billion won through a third-party allotment capital increase and 4 billion won through convertible bonds issuance on the 25th.

Researcher Kim said, “The fundraising is targeted at companies such as Linfra Corp. in the Philippines and is intended for entry into the Philippine tuberculosis vaccine market, which is worth 4.5 trillion won.”

He added, “Since his election, Philippine President Ferdinand Marcos Jr. has introduced a project called PAAP-TB, led by the Minister of Health, aiming to eradicate tuberculosis and operating a national tuberculosis eradication policy. Currently, a joint venture with Linfra is underway, and they are collaborating on overall business strategies including tuberculosis vaccine development, product approval, sales, and distribution. The initial focus will be on the Philippine market, with plans to expand into ASEAN countries in the future.”