SK Bioscience announced on March 30 that it has submitted an investigational new drug (IND) application to the FDA (Food and Drug Safety Agency) for its second clinical trial of next-generation pneumococcal vaccine being developed jointly with Sanofi Pasteur after completing its first trial in the U.S.
SK Chemicals, the parent company of SK Bioscience, signed a contract with Sanofi Pasteur, a global vaccine company, in 2014 to jointly develop and sell next-generation pneumococcal vaccine with the aim of making inroads into the global market.
Since then, the company has begun full-scale research and development and received $11 million for Milestone (per-stage technology fee) for successfully completing the first trial at the end of last year.
According to global market research firm Allied Market Research, the global sales of pneumococcal vaccine reached about $6.3 billion (7.6 trillion won). The market is expected to grow to $9 billion by 2025.
"The vaccine that will generate high value added in the global market has been developed with domestic technology. And we are gradually approaching success. Although second and third trials still remain, we will achieve the target by making best efforts," said Ahn Jae-yong, CEO of SK Bioscience.
Meanwhile, SK Bioscience, a newly established bio and vaccine company that has been spun off from SK Chemicals, is making full-fledged inroads into the global market through its own vaccine.
Recently, it has also started to secure technology for a vaccine development platform that can respond more quickly to the newly popular strains of viruses such as new corona, MERS and SARS.
SK Bioscience has a system that enables mass production as soon as the development of new vaccines is completed through Andong L House, a vaccine factory that boasts the world's highest level of facilities.