SK Bioscience (302440) has secured a European public vaccine project one year after acquiring German CDMO firm IDT Biologika, marking the start of full-scale business synergies.
SK Bioscience announced on the 26th that it and IDT have been selected for the Phase 1 project of a next-generation vaccine development initiative. The project is led by the Health and Digital Executive Agency (HaDEA) under the European Commission, commissioned by the Health Emergency Preparedness and Response Authority (HERA).
The two companies have formed a three-party consortium with Australian vaccine platform company Vaxxas to develop seasonal influenza vaccines for the elderly and pandemic (avian flu) vaccines for all age groups in microneedle patch form. This marks SK Bioscience's first contract for a project led by European health authorities.
The project will proceed under the EU's financial support framework. HaDEA will provide a total of 12.9 million euros (approximately 22.2 billion won) for Phase 1 research including Phase 1 clinical trials. If the project advances to final stages including Phase 3 trials, funding could increase to up to 225 million euros (approximately 383.6 billion won).
Within the consortium, IDT will serve as the local European contracting entity and oversee project management, while handling vaccine bulk production during commercialization. SK Bioscience will supply bulk vaccines based on cell culture technology, including its existing seasonal flu vaccine "SKYCellflu" and a pandemic vaccine under development, while supporting clinical development. Vaxxas will provide its HD-MAP (microneedle) patch technology that enables high immunogenicity and will be responsible for producing patches for clinical use.
The patch-type flu vaccine aims to be a high-immunogenicity product that induces strong immune responses with smaller antigen doses. Its ability to be stored at room temperature and short application time enhance vaccination convenience, making it competitive for elderly populations and mass vaccination scenarios. According to Datamonitor, the seasonal flu vaccine market for elderly populations is valued at approximately $459 million (about 620 billion won) annually.
This contract is significant as the first case of securing global funding through collaboration from the joint planning stage following the IDT acquisition. The company plans to use this as a springboard to expand participation in European public projects and pursue entry into major markets including Korea and the United States.
SK Bioscience President Ahn Jae-yong said, "After the IDT acquisition, the networks and technological capabilities of both companies have combined to create full-scale business synergies," adding, "We will accelerate the European market entry of our own vaccines."