SEOUL, Mar. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical firm, said Monday that it has received a US$33.4 million grant from the Bill & Melinda Gates Foundation to develop a new combination vaccine.
The grant will be used to develop the 6-in-1 vaccine for simultaneous protection against six serious diseases — diphtheria, tetanus, whooping cough, polio, Hib disease and hepatitis B.
The company will use the grant to develop and advance clinical trials on the vaccine, which is expected to enhance protection for babies and help increase the number vaccinations globally.
The combo vaccine allows for a single injection to protect babies from various childhood illnesses. Currently, there are no products on the market that have received “Pre-Qualification” certification from the World Health Organization, although LG Chem hopes to attain such approval.
In 2017, LG Chem received a US$12.6 million grant from the foundation to develop a new polio vaccine. The polio vaccine for children is currently going through phase 3 clinical trials and is set to launch in 2021.