GC Biopharma announced on the 2nd that it had signed an agreement with VaxThera, a Colombian vaccine company, to provide technical support for the manufacture of its finished influenza vaccine, GC Flu, and supply the vaccine bulk. The contract is valued at approximately $39.5 million.
GC Biopharma will supply GC Flu bulk material and provide process technology support and on-site technical training for production in Colombia. VaxThera will handle filling, packaging and quality control at its local facility, as well as the entire process from obtaining product approval to distribution and sales.
Vaccine bulk is an intermediate product containing antigen components that trigger an immune response. It is converted into a finished vaccine through processes that include filling containers with the prescribed doses and packaging the product.
The Colombian government has recently identified the healthcare sector as a key driver of national development through its national reindustrialization policy and healthcare reform plans. It is pursuing domestic vaccine self-sufficiency and stronger vaccine manufacturing capabilities. Locally produced vaccines may qualify for expedited regulatory review and receive preferential treatment in government procurement bids.
The project is a global health initiative led by GC Biopharma as the provider of core technologies, with part of the project costs funded by the Research Investment for Global Health Technology Foundation (RIGHT Foundation).
Drawing on the technology and expertise it has accumulated as one of South Korea’s leading vaccine companies, GC Biopharma plans to expand global access to vaccines and help strengthen vaccine production and supply capabilities in Latin America.
GC Biopharma CEO Huh Eun-cheol said, “This agreement will serve as an opportunity to establish a sustainable supply structure in the Latin American market, building on GC Biopharma’s influenza vaccine technology and manufacturing capabilities.”