Wednesday, August 09, 2023
SK Bioscience announced to make an equity investment in Novavax to address endemic challenges.
SK bioscience and Novavax have prolonged their existing licence agreement to include Novavax's newly developed COVID-19 vaccine, designed for annual immunisation. This extended partnership also involves SK bioscience's exploration of future collaborations with Novavax, which will encompass leveraging Novavax's adjuvant, known as 'Matrix-M.'
The extended licence agreement will empower SK bioscience to set up a proactive response system within South Korea's vaccination landscape for the new endemic phase. This agreement is built on a successful partnership that has spanned multiple years, allowing both companies to understand each other's strengths.
As part of the agreement, SK bioscience secures exclusive distribution rights for Novavax's COVID-19 variant vaccine in South Korea, while also gaining non-exclusive distribution rights in Thailand and Vietnam for supply and commercialisation of the vaccine.
The strategic equity investment, combined with the collaboration between SK bioscience and Novavax throughout the pandemic, will create powerful synergy.
