S. Korea's SK Bioscience acquires stake in US biotech company

Xinhua
South Korea's vaccine maker SK Bioscience said Tuesday that it signed an agreement to acquire a stake in a US-based biotechnology company.
Xinhua

South Korea's vaccine maker SK Bioscience said Tuesday that it signed an agreement to acquire a stake in a US-based biotechnology company.

The pharmaceutical unit of South Korea's third-biggest conglomerate SK Group signed an agreement to buy a stake in Fina Biosolutions based in Maryland, by investing 3 million US dollars and became the US firm's first and sole strategic investor.

SK Bioscience, which manufactures conjugate vaccines, said it will actively utilize the carrier protein CRM197 of the FinaBio, which specializes in the research and development of conjugate vaccines for pneumonia, meningococcal, typhoid and other diseases.

The US company is developing a next-generation conjugation technology that is site-specific and targets a desired location for antigen binding, the South Korean vaccine maker noted.

SK Bioscience inked an agreement in June to purchase a controlling stake in German vaccine contract manufacturer IDT Biologika, while signing a simple agreement for future equity (SAFE) in July with US biotech company Sunflower Therapeutics, known for its own yeast-based protein manufacturing technology.


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