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- SK bioscience’s board approval follows the Financial Services Commission’s May 28 announcement selecting the company as a beneficiary of the KRW 300 billion (approximately USD 230 million) Korea Growth Fund financing program
- SK bioscience became the first Korean novel drug and vaccine developer selected for the Korea Growth Fund, with the financing expected to support late-stage pneumococcal vaccine development
- SK bioscience plans to accelerate global Phase 3 development of GBP410, co-developed with Sanofi, while contributing to the strengthening of Korea’s vaccine sovereignty
INCHEON, South Korea, May 29, 2026 /PRNewswire/ — SK bioscience is accelerating late-stage development of its innovative pneumococcal vaccine candidate targeting the global market, backed by government-supported financing.
SK bioscience Headquarters in Songdo
SK bioscience announced that its Board of Directors approved agenda items at a regular board meeting, including a financing plan backed by the Korea Growth Fund. The decision follows the company’s selection as a beneficiary of the fund by the Fund Management Deliberation Committee under Korea’s Financial Services Commission the previous day. SK bioscience is the first Korean novel drug and vaccine developer to receive support from the Korea Growth Fund.
Under the approved plan, the company will secure KRW 300 billion (approximately USD 230 million) in long-term, low-interest financing through the Korea Growth Fund program. The funds will be utilized for R&D, commercialization preparation, and manufacturing capability enhancement for ‘GBP410,’ SK bioscience’s and Sanofi’s 21-valent pneumococcal conjugate vaccine candidate currently undergoing global Phase 3 clinical trials.
GBP410 is an innovative pneumococcal vaccine candidate jointly developed with Sanofi, designed to provide broad serotype coverage compared to currently marketed vaccines. Global Phase 3 clinical trials are progressing smoothly, and the company is accelerating commercialization preparation and manufacturing readiness with the goal of announcing top-line results in the second half of next year.
The selection is particularly meaningful as it reflects the Korean government’s recognition of the global competitiveness of domestic biotech companies’ R&D capabilities and pipeline assets, expanding beyond traditional support focused primarily on manufacturing infrastructure. It also signals the government’s commitment to fostering a stable development environment for Korean biotech companies undertaking large-scale global clinical programs requiring significant capital investment.
The Korea Growth Fund is a public-private policy financing initiative established to foster strategic industries such as AI, semiconductors, biotechnology, and secondary batteries. Structured as a citizen-participation investment fund, it aims to provide long-term capital to future growth industries. The government has prioritized support for globally competitive large-scale projects, including next-generation biopharmaceutical and vaccine development programs in global Phase 3 clinical stages.
In addition to GBP410, SK bioscience is expanding its infectious disease-focused pipeline, including universal COVID-19 vaccines, microneedle patch influenza vaccines, RSV preventive antibody therapeutics, and mRNA vaccine platforms. Earlier this year, the company relocated its headquarters and research center to Songdo, Incheon, integrating R&D, process development (PD), business development (BD), and marketing functions to further enhance its global competitiveness.
Jaeyong Ahn, CEO of SK bioscience said, “Being selected as a beneficiary of the Korea Growth Fund reflects recognition of our vaccine development capabilities and global business competitiveness. We will continue investing in key pipeline development and manufacturing infrastructure to strengthen Korea’s vaccine sovereignty and enhance preparedness for future infectious disease outbreaks.”
SK bioscience continues to contribute to Korea’s national infectious disease prevention system by supplying self-developed influenza and varicella vaccines through the National Immunization Program (NIP). The company’s shingles vaccine, the first developed in Korea, is also being widely utilized in local government vaccination support programs nationwide. In addition, SK bioscience is advancing development of a cell culture-based avian influenza (H5N1) vaccine as part of a government-led initiative, further reinforcing its role in safeguarding public health security.
About SK bioscience
SK bioscience is an innovative vaccine and biotech company, committed to vaccine development and manufacturing to enable more equitable access to vaccines around the world. Leveraging strengths on cutting-edge technologies, SK bioscience has been dedicated to promoting human health from prevention to cure across the globe. With the cooperation of domestic and international governments, regulatory agencies, healthcare providers, doctors, and medical experts, all of the SK colleagues are passionately committed to providing high-quality vaccines to those who need them and better public healthcare solutions.
SK bioscience Communications Team
Changhyun Jin (jin99@sk.com)
Tae-Gyun Kim (taegyunkim@sk.com)
Moonchel Kim (mc_kim@sk.com)
