SK Bioscience announced on February 26th that a tripartite consortium including the company has been selected for the first phase of a next-generation vaccine development initiative. The project is spearheaded by the European Commission (EC) under the Health and Digital Executive Agency (HaDEA).
According to SK Bioscience, the consortium includes IDT Biologika—a German contract development and manufacturing organization (CDMO) acquired by SK Bioscience—and Vaxxas, an Australian vaccine platform company. The partnership aims to simultaneously develop a seasonal influenza vaccine tailored for the elderly and a patch-based avian influenza vaccine for all age groups.
Phased Funding and Strategic Collaboration
The first phase of the project has been allocated a total of 12.9 million euros (approximately 21.7 billion won) in funding from HaDEA. Should development progress to Phase 3 clinical trials based on initial results, the funding could expand to a maximum of 25 million euros (approximately 42 billion won).
This marks the first time SK Bioscience has secured a project from EU health authorities. It also represents a significant milestone as the first tangible result of the close collaboration between SK Bioscience and IDT Biologika since the acquisition, securing global funding from the initial planning stages. As a local European entity, IDT Biologika serves as the primary lead on the contract and will oversee the project.
A New Global Standard for Vaccine Entry
"This project represents the first instance where the combined global networks and technological capabilities of both companies have led to a direct business result following the acquisition of IDT," said Jae-yong Ahn, CEO of SK Bioscience. "We will continue to actively seek opportunities for our self-developed vaccines to enter the EU market in the future."
