GC Biopharma Signs VaxThera Vaccine Deal
Contract Worth About KRW 59.2 Billion Backed by RIGHT Foundation Funding GC Biopharma said on Nov. 2 that it signed a contract with VaxThera, a Colombian vaccine company, for technical support for finished-product manufacturing and bulk drug substance supply for its influenza vaccine “GCFLU.”The tot
On November 2, GC Biopharma announced it had signed a contract with Colombian vaccine company, VaxThera, for technical assistance in the production of their influenza vaccine, GCFLU. The agreement, worth approximately KRW 59.2 billion ($42.95 million), was partially funded by the Research Investment for Global Health Technology Foundation (RIGHT Foundation).
As part of the collaboration, GC Biopharma will supply the bulk drug substance for GCFLU and offer process technology support for local production and on-site training. In contrast, VaxThera will manage filling, packaging, and quality control at their plant in Colombia. They will also assume responsibility for securing marketing authorization, local distribution, and sales of the product.
GC Biopharma President and CEO, Hur Eun-chul, expressed optimism about the contract, stating it would establish a sustainable supply structure in the Latin American market based on their influenza vaccine technology and production capabilities.
VaxThera's CEO, Jorge E. Osorio, emphasized their commitment to developing local talent through technical support and bolstering health security. Through this partnership, GC Biopharma anticipates enhancing vaccine accessibility in Latin America, while simultaneously fostering a local production ecosystem and establishing a stable revenue model.
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