SK Bioscience said on Thursday that it signed a memorandum of understanding (MOU) for joint research and development of new vaccines and platforms with Hilleman Laboratories, an international non-profit research institute.

Hilleman Laboratories is a research institute established in 2009 by a joint venture between global pharmaceutical company, MSD, and the Welcome Trust of the U.K., the world's largest medical research support foundation.

Through this agreement, both organizations will collaborate on the entire vaccine R&D process, including basic research on new vaccines, selection of candidate materials, development of manufacturing processes and clinical research.

In particular, Hilleman Laboratories will focus on research and initial process development while SK Bioscience will utilize its capabilities in process development and commercialization.

Additionally, the companies agreed to establish a system that can develop vaccines early and supply them in a timely manner by jointly responding to viral diseases such as Ebola, Lassa fever, Chikungunya virus, and antibiotic-resistant diseases.

Accordingly, the vaccine development and technology transfer process will be streamlined and mutual cooperation in training manpower will be accomplished through this venture, SK Bioscience said.

SK Bioscience plans to jointly develop and stably supply vaccines by securing the latest vaccine platforms such as mRNA and virus vectors to expand its product portfolio and strengthen its growth engines.

Hilleman Laboratories CEO Raman Rao said, "Due to economic burdens, it has been difficult for underdeveloped countries to administer vaccines, which are the first line of defense against infectious diseases, but we are pleased to collaborate with SK bioscience for the development of a new vaccine platform to expand access to vaccines."