November 21, 2024

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Logos of SK Bioscience and Fina Biosolutions (SK bioscience)

South Korean biotech firm SK Bioscience said Tuesday it has invested $3 million in the US-based biotech firm Fina Biosolutions to acquire a stake in the company as part of the company’s broader strategy to secure next-generation vaccine technologies and enhance its global competitiveness in the vaccine market.

Founded in 2006, Fina Biosolutions specializes in conjugate vaccines widely used in vaccines to prevent illnesses such as pneumonia, meningococcal disease and typhoid.

The company is known for its proprietary FinaXpress system, which utilizes an E. coli expression system to produce proteins such as CRM197, marketed as EcoCRM, a key carrier protein in vaccine production.

Fina Biosolutions is also developing a next-generation site-specific conjugation technology to enhance immunogenicity and production efficiency.

As FinaBio’s first and sole strategic investor, SK Bioscience plans to incorporate CRM197 technology into its vaccine production to increase efficiency and profitability.

FinaBio CEO Andrew Lees expressed optimism stating, “(SK Bioscience’s) investment will accelerate the global commercialization of EcoCRM.”

“Combined with our efficient conjugation technology, this will enable the development of next-generation conjugate vaccines. It will also allow us to continue our mission of promoting affordable vaccines,” Lee said.

The deal follows SK Bioscience’s recent acquisitions in Europe and the US, including gaining management control of Germany’s IDT Biologika and a conditional stake in US-based Sunflower, which specializes in protein manufacturing for vaccines.

“We are delighted to continue developing partnerships with global firms that have next-generation vaccine technology,” CEO and President of SK Bioscience Ahn Jae-yong said, emphasizing the company’s goal of strengthening its global position in the vaccine market.

By Park Li-na (linapark@heraldcorp.com)