Seoul [South Korea], June 30 (ANI/Global Economic): South Korea's pharmaceutical industry launched the 'Next Generation mRNA Vaccine Platform Technology Consortium' (K-mRNA Consortium) to produce more than 100 million doses of mRNA-based vaccine and get approved.
The Ministry of Health and Welfare and the Korea Pharmaceutical Bio Association announced on the 29th that launched K-mRNA consortium consisting of 3 companies including Hanmi Pharmaceutical, ST Pharm, GC Green Cross, and supported by Korea Innovative Medicines Consortium (KIMCo).
The consortium was launched to secure platform technology for the mRNA COVID-19 vaccine by joining a team of companies with strengths in raw materials, vaccine manufacturing, and new drug development. Its goal is to achieve self-sufficiency of vaccines by establishing mass production system.
K-mRNA Consortium is planning to develop and produce its own vaccines within 2 years by combining the capabilities of three companies that play important roles in vaccine platform-based technologies, raw materials production such as LNP and mass production.
Through the consortium, three companies are going to conduct full-cycle development, from raw materials to completed vaccines.
KIMCo, which was launched last year with a joint investment from the Pharmaceutical Bio Association and 56 pharmaceutical companies, will provide supports from the government and National Assembly.
The consortium visualizes the development and production of the mRNA vaccine in two phases. Firstly, the government is planning to secure domestic mRNA vaccine technology to produce 100 million doses of COVID-19 vaccine that can vaccinate twice per person by 2022.
CEO Huh Kyung-hwa of KIMCo said, "We will obtain emergency use authorization for 100 million doses of COVID-19 vaccine that can vaccinate twice per person by next year."
Also, it is planning to set up establish a mass production system for vaccines based on the mRNA platform and produce more than 1 billion doses to not only supply in Korea but also export to overseas by 2023. By 2025, it will develop anti-cancer vaccines and next-generation innovative drugs based on mRNA vaccine platform to strengthen its global competitiveness.
For this plan, Hanmi Pharmaceutical, ST Pharm, and GC Green Cross have agreed to invest more than 700 billion won in clinical trials, core materials, and mass production facilities. In addition, the consortium is planning to expand its participation to domestic pharmaceutical bio companies and university-related to mRNA technologies and raw material production. (ANI/Global Economic)