BioNote, which recently became the largest shareholder of EuBiologics, signed an agreement with EuBiologics to develop a universal Covid-19 vaccine that could fight virus variants.
Industry watchers said the latest deal signaled BioNote might be seeking to acquire EuBiologics.
EuBiologics said on Wednesday that the company and BioNote agreed to jointly work on a technology to commercialize a universal Covid-19 vaccine. For the Covid-19 vaccine development, the two companies will combine BioNote’s antigen selection and cell line development technology with EuBiologics’ immunity enhancement technology (EuIMT).
“We expect to accelerate the development of a next-generation universal (Covid-19) vaccine using the two companies’ platform technology and know-how,” an official at EuBiologics said. “Once we successfully develop a universal vaccine, we will utilize the two companies’ overseas networks to enter both the public and private markets and do our best to help the global control of Covid-19.”
Under the agreement, BioNote will conduct an in vitro efficacy test (virus neutralization test) of the key antigen of the new vaccine and supply the developed cell line exclusively.
EuBiologics plans to apply EuIMT to an antigen produced from cell lines supplied by BioNote, and develop a formulation that can induce neutralizing antibody response and cell-mediated immunity against various virus variants.
EuBiologics confirmed the vaccine candidate’s effect against virus variants in hACE transgenic mice in a non-clinical test program supported by the government.
BioNote, the parent company of SD BioSensor, specializes in analyzing functional antigens of various pathogens and cell line development. In addition, the company has a Biosafety Level 3 (BL-3) laboratory that handles high-risk pathogens.
BioNote bought more stake in EuBiologics and became the largest shareholder on Oct. 8, replacing the former largest stakeholder Kim Duk-sang, CEO of Sartorius Korea Biotech. BioNote holds a 6.14 percent stake in EuBiologics.
Some observers said BioNote might be planning a hostile takeover of EuBiologics.
Industry officials pay attention to how the recent agreement between the two companies for vaccine development will affect their businesses.
EuBiologics is working on EuCorVac-19. The company completed the vaccine administration in a local phase 2 study and applied for a phase 3 trial to the Ministry of Food and Drug Safety.