SK Bioscience to acquire stake in U.S. biotech firm

This photo shows SK Biosciences vaccine plant in Andong North Kyongsang Province Courtesy of SK Bioscience — This photo shows SK Bioscience's vaccine plant in Andong, North Gyeongsang Province. Courtesy of SK Bioscience

SEOUL, October 8 (AJP) - SK Bioscience, developer of Korea's first domestically produced COVID-19 vaccine, said Tuesday it will invest $3 million to acquire a stake in U.S.-based Fina Biosolutions.

Fina Biosolutions possesses key technologies for conjugate vaccines that prevent diseases such as pneumococcal, meningococcal and typhoid fever. The company holds proprietary technology for manufacturing the CRM197 protein carrier, crucial in developing conjugate vaccines.

SK Bioscience aims to use Fina Biosolutions' CRM197 technology to enhance the efficacy of its conjugate vaccines and increase profitability through high-yield processes.

The U.S. drugmaker is researching next-generation CRM197 technology that targets specific sites when binding to antigens, potentially boosting immunogenicity and productivity.

Fina Biosolutions collaborates with global bio companies and institutions, including Inventprise in the U.S., the Serum Institute of India and the Chengdu Institute of Biology in China.

SK Bioscience has been expanding its global investments. Earlier this month, it completed the acquisition of Germany's IDT Biologika. In July, it invested $2 million in U.S.-based Sunflower Therapeutics.

Kim Joo-heon jhkim123@ajunews.com