SK Bioscience will work on discovering candidates for the coronavirus vaccine and finding the most optimum antigen to develop candidates for clinical use. (image: SK Bioscience)
SEOUL, May 19 (Korea Bizwire) – South Korean companies have received funds from the Bill & Melinda Gates Foundation, one of the world’s largest private foundations, to research treatment for COVID-19 after South Korea became a model case in containing the pandemic, with high potential in the information technology (IT) and biopharma industries.
SK Bioscience, a local vaccine developer, announced Monday that the company will receive US$3.6 million from the foundation towards the development of a coronavirus vaccine, news that comes after the foundation decided to invest 12 billion won (US$9.7 million) in South Korean telecom giant KT Corp. to develop next-generation quarantine technologies to fight pandemics.
SK Bioscience will work on discovering candidates for the coronavirus vaccine and finding the most optimum antigen to develop candidates for clinical use.
The company also plans to consult with the Coalition for Epidemic Preparedness Innovations (CEPI), an international agency that currently leads global R&D for a coronavirus vaccine, to discuss on how to allocate the funds.
The Bill & Melinda Gates Foundation is a non-profit organization established by Microsoft co-founder Bill Gates and his wife Melinda in 2000 with the objective to fight world poverty and disease.
The foundation also funded other projects led by SK Bioscience, including vaccines for rotavirus and typhus fever. Now, the foundation is focusing on developing a coronavirus vaccine.
The foundation has been known to think highly of South Korea’s approach to dealing with the coronavirus.
The foundation’s joint chair Melinda Gates said in a recent interview that South Korea, alongside Germany, “gets an A” for dealing effectively with the coronavirus.
Kevin Lee (kevinlee@koreabizwire.com)
