AIDS Therapy

VaxGen to establish joint venture in South Korea to manufacture AIDS vaccine

Published in Vaccine Weekly, April 3rd, 2002

VaxGen, Inc., a U.S. biotech company, has signed an agreement to set up a joint venture with South Korean firms to manufacture an AIDS vaccine currently in clinical trials.

The new company, Celltrion, will be established by the end of next year with two Korean companies and the state-run Korea Tobacco and Ginseng Corp., South Korea's Ministry of Commerce, Industry and Energy said in a statement.

The $150 million plant will be built in an industrial complex in Incheon, west of Seoul.

Under the plan, San Francisco-based VaxGen will own 45% of the venture, and the rest will be held by South Korea's Nexol Biotech Co., J. Stephen &...

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Source: Vaccine Weekly (2002-04-03)

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