SK Bioscience Buys Stake in Fina Biosolutions

SK bioscience, a leading vaccine and biotech company from South Korea, has announced a significant investment in Fina Biosolutions (FinaBio), a biotechnology firm based in Rockville, Maryland, USA. By investing USD 3 million, SK bioscience will become FinaBio's first and sole strategic investor. This move is set to enhance the development and productivity of next-generation conjugate vaccines, including those for pneumonia and typhoid.

Established in 2006, FinaBio specializes in the research and development of conjugate vaccines targeting diseases such as pneumonia, meningococcal, and typhoid. One of their key innovations is FinaXpress, a proprietary E. coli expression system that allows the production of proteins previously unattainable in these bacteria. This technology includes the important carrier protein CRM197, marketed as EcoCRM®. Additionally, FinaBio is working on an advanced conjugation technology that is site-specific, optimizing the binding of antigens to boost immunogenicity and productivity.

FinaBio collaborates with numerous global biotech companies and institutions. Notable partners include The Serum Institute of India, The Chengdu Institute of Biology in China, and Inventprise in the U.S. These collaborations focus on supplying conjugation technology and carrier proteins, such as CRM197. By leveraging its expertise, FinaBio aims to expand its business units, including services for conjugate vaccine development, reagents, and related technologies.

SK bioscience, known for producing conjugate vaccines like pneumococcal and typhoid vaccines, plans to integrate FinaBio's CRM197 technology into its manufacturing processes. This integration is expected to enhance the effectiveness of a variety of conjugate vaccines and improve profitability through more efficient production methods.

Dr. Andrew Lees, Founder and CEO of FinaBio, expressed gratitude for SK bioscience's confidence in their technology. He emphasized that the investment would accelerate the global commercialization of EcoCRM® (CRM197) and support the development of next-generation conjugate vaccines. Dr. Lees also highlighted the potential to continue their mission of promoting affordable vaccines.

Jaeyong Ahn, CEO and President of SK bioscience, expressed enthusiasm about the partnership with FinaBio. He noted that this collaboration aligns with the company's strategy to strengthen its position in the global market by advancing vaccine technologies. Ahn emphasized the importance of mid- to long-term collaborations with companies that possess cutting-edge vaccine technologies.

SK bioscience has been actively investing in global companies to create synergies and enhance their business capabilities. In June 2024, the company acquired a controlling stake in IDT Biologika, a top global vaccine contract manufacturer based in Germany. The acquisition was completed earlier this month. Additionally, in July 2024, SK bioscience signed a Simple Agreement for Future Equity (SAFE) with Sunflower Therapeutics, a U.S. biotech company known for its yeast-based protein manufacturing technology. This technology facilitates the development and production of diverse antigens and antibodies.

Through strategic investments and mergers and acquisitions (M&As), SK bioscience aims to secure its competitiveness and establish a strong foundation for becoming a leading global company in the vaccine and biotech industry.