SK Bioscience Fully Accelerates Synergies One Year After Acquiring German Firm
Secures European Project to Drive Growth
SK Bioscience is moving to fully realize business synergies just one year after acquiring German CDMO (Contract Development and Manufacturing Organization) company IDT Biologika (IDT). After successfully turning IDT’s performance around to profitability last year, the company is now building on these visible results by being selected this year to carry out a large-scale vaccine development project for an agency under the European Union (EU).
SK Bioscience announced on the 26th that, together with IDT, it has been finally selected for Phase 1 of a next-generation vaccine development initiative promoted by the Health and Digital Executive Agency (HaDEA) under the European Commission (EC), mandated by the Health Emergency Preparedness and Response Authority (HERA). The two companies, forming a three-party consortium with Australian vaccine platform company Vaxxas, won a project to develop patch-type vaccines for seasonal influenza for older adults and for pandemic influenza (avian influenza) targeting all age groups. This is the first time SK Bioscience has won a project from European health authorities.
This project is part of an EU funding framework aimed at strengthening the commercialization and supply capacity of next-generation vaccines within Europe. HaDEA will provide a total of 12.9 million euros (approximately 22.2 billion won) as Phase 1 research funding, including a Phase 1 clinical trial. Depending on subsequent technology validation and clinical outcomes, if development advances to Phase 3 and the final stage, total funding could be expanded up to 225 million euros (approximately 383.6 billion won).
This achievement is particularly significant in that it represents the first tangible outcome of global funding secured through close collaboration between the two companies from the initial planning stage, following SK Bioscience’s acquisition of IDT. It has created a practical foothold for influenza vaccine technology developed in Korea to enter the highly demanding European market.
Within the consortium, IDT, as the local European entity, serves as the contracting party and oversees overall project management, and will function as a key hub responsible for producing vaccine drug substance if the project advances to the commercialization stage. SK Bioscience, leveraging its proprietary cell culture technology, will supply the drug substance for the proven seasonal influenza vaccine “Skycellflu” and for its pandemic (avian influenza) vaccine currently under development, and will conduct clinical development in collaboration with Vaxxas. Vaxxas will provide its high-immunogenicity microneedle (HD-MAP) patch technology and will be responsible for producing research patches to be used in the Phase 1 clinical trial.
The patch-type influenza vaccine to be developed by the three companies is intended to be a highly immunogenic product that induces a strong immune response with a small amount of antigen. In particular, it is expected to maximize user convenience in administration through a short application time and excellent thermostability that allows storage at room temperature.
According to global market research firm Datamonitor, the market for seasonal influenza vaccines for older adults is estimated at approximately 459 million dollars per year (about 620 billion won). Because older adults, whose immune responses are reduced, have high demand for premium products such as high-dose and adjuvanted vaccines, innovative formulations and technological capabilities are expected to become the key competitive factors that determine market leadership.
Through this project, SK Bioscience plans to aggressively target the premium seasonal influenza vaccine market for older adults, while also expanding its pandemic influenza (avian influenza) response capabilities accumulated through the development process into European public projects. If development is successful, the company will seek entry into major advanced markets, including the European Northern Hemisphere market, and will also pursue additional business opportunities through exports to key markets such as Korea and the United States, depending on future global clinical outcomes.
David Hoey, CEO of Vaxxas, said, "This project demonstrates our shared commitment to investing in next-generation delivery technologies that simplify vaccination and strengthen responses to seasonal and pandemic influenza," adding, "Vaxxas and its partners have undertaken a project to transform existing vaccines, which means that Vaxxas’ technology has been recognized as a key pillar of strategies to prepare for future public health."
Ahn Jae-yong, CEO of SK Bioscience, said, "This project is the first case in which the combined global networks and technological capabilities of both companies following the IDT acquisition have translated into business results," and added, "We will continue to actively seek opportunities to bring our in-house developed vaccines into Europe and strengthen our competitiveness in the global market through innovative platforms."
Meanwhile, SK Bioscience is accelerating the global expansion of its key pipeline based on collaboration with global partners. The company is currently: advancing a global Phase 3 clinical trial of GBP410, a next-generation pneumococcal vaccine co-developed with Sanofi; entering clinical trials for a "universal sarbecovirus vaccine" undergoing global clinical development with support from CEPI; and establishing next-generation vaccine strategies based on an mRNA platform. Through these efforts, the company plans to grow beyond Korea and emerge as a leading player in the global vaccine market.
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