BIO WEBINAR SK Bioscience comes up with 2-track strategy to become global vaccine powerhouse

Lee Sang-mok, head of Strategic Planning Division of SK Bioscience, speaks during The Korea Times' Bio Webinar, March 26. Captured during the event

By Baek Byung-yeul

Logo for SK Bioscience

SK Bioscience has set its sights on becoming the global vaccine powerhouse by developing its own COVID-19 vaccine and expanding its contract development and manufacturing organization (CDMO) business, said Lee Sang-mok, head of the company's Strategic Planning Division, March 26.

“SK Bioscience is implementing a two-track strategy ― developing our own vaccines and manufacturing and distributing vaccines developed by global vaccine makers. Based on our capabilities in every process in vaccine business, we are aiming to become a vaccine specialist company,” Lee said during The Korea Times' Bio Webinar.

The Korea Times hosted the online seminar to shed light on the government's steps to attract global biotech entities for its plan to build a cluster here, and discuss diverse issues regarding the biotech industry.

Park Jae-young, director general of the Manufacturing Industry Department at the Ministry of Trade, Industry and Energy, took part in the event as a main speaker and panelists included executives from major biotech companies here ― SK Bioscience, Samsung Biologics, LG Chem and Celltrion.

Since the outbreak of the COVID-19, SK Bioscience has been cooperating closely with global vaccine makers and signed CDMO contracts for COVID-19 vaccines with global firms AstraZeneca last July and Novavax last August.

Now, SK Bioscience is the only company here engaged in both developing its own COVID-19 vaccine prototypes as well as manufacturing. The company recently began conducting clinical studies of two COVID-19 vaccine candidates ― NBP2001 and GBP510.

“We are now on Phase 1 clinical trials with our vaccine candidate NBP2001. Also, with the financial backup from international organizations such as the Coalition for Epidemic Preparedness Innovations (CEPI) and the Bill & Melinda Gates Foundation (BMGF), clinical trials using GBP510 candidate are also underway,” Lee said.

Speaking of how the company could become a distinguished vaccine maker, Lee mentioned three key factors have helped SK Bioscience grow faster in the industry.

“Thanks to the global initiative from organizations such as the CEPI and BMGF, which made investments in developing vaccines and ensured equitable vaccine distribution. With their supports, vaccine makers were able to overcome the difficulties in development and production processes and maximize their capabilities,” the executive said.

“Another factor is the government's supports ranging from R&D and clinical trials to financial and operational supports. Also, the other is the company's strong will to become a vaccine powerhouse.”

Stating that chances are always there that the world could face another pandemic wave after the ongoing COVID-19 epidemic, the strategy and planning division chief called on the government to establish a clear vaccine strategy.

“The country needs to set up clear policy goals and principles regarding its vaccine strategy, such as whether we will become the first country in the world to develop and inoculate vaccines in the event of a pandemic, or whether we will try to develop quality vaccines even if it is a bit late compared to other countries,” Lee said.

He called on the government to establish more detailed emergency response guidelines for the event of future pandemics and specific plans to cultivate talented personnel to boost the country's competence in the vaccine development sector.

“We need to focus on nurturing manpower in the vaccine and biotechnology sectors. Also we need to foster an ecosystem for development, clinical trials, manufacturing and distribution of vaccines,” Lee said. “In addition, the country is urged to choose which area it needs to focus on its R&D efforts and make an up-front investment.”