SK bioscience invests $3 mil. to acquire stake in US R&D firm Fina Biosolutions

SK bioscience, a vaccine maker under Korea’s SK Group, said on Tuesday it will spend $3 million to acquire a stake in Fina Biosolutions, an American R&D biotech firm. The Korean company said that it will become Fina Biosolutions’ first and sole strategic investor with the acquisition. 

Founded in 2006, Fina Biosolutions focuses on developing conjugate vaccines for diseases like pneumonia, meningococcal, and typhoid. Their proprietary E. coli expression system enables the production of proteins like CRM197, expanding access to this key protein.

CRM197 binds to antigens that induce immunity against infectious diseases, helping to trigger a stronger immune response.

Fina Biosolutions partners with global biotech companies and institutions like The Serum Institute of India, The Chengdu Institute of Biology in China, and U.S.-based Inventprise to provide conjugation technology and carrier proteins like CRM197. The company plans to expand its business units, including vaccine development services, reagents, and technologies.

SK bioscience, a producer of pneumococcal and typhoid vaccines, said it will leverage Fina Biosolutions' CRM197 technology to enhance the effectiveness of its conjugate vaccines and boost profitability with high-yield processes.

SK bioscience has been investing in global companies to create business synergies. In June this year, it signed an agreement to acquire a controlling stake in IDT Biologika, a top 10 global vaccine contract manufacturer, and completed the acquisition in early October. In July, SK bioscience also entered a Simple Agreement for Future Equity (SAFE) with U.S.-based Sunflower Therapeutics, known for its yeast-based protein manufacturing technology for antigens and antibodies.