SK Bioscience said Monday that it will be receiving additional funding from the Coalition for Epidemic Preparedness Innovations for the development of its COVID-19 vaccine candidate.

The grant of up to $173.4 million will be spent on global phase 3 clinical tests of GBP510, a protein-based vaccine candidate that the South Korean firm is developing in collaboration with the University of Washington.

The amount is far greater than what the Oslo-based international organization has provided to the firm so far, which SK officials said may be indicative of optimism based on the results of the phase 1 and ongoing phase 2 trials.

With the fresh funding, CEPI’s grants for GBP510 amount to $211 million -- the most financial support ever received by any Korean vaccine developer.

GBP510 is among the candidates for the CEPI’s next-generation “Wave 2” vaccine program, designed to prepare for the increasingly likely scenario of COVID-19 becoming a recurring seasonal illness.

Once developed and proven safe and effective, the drug would be made available for global procurement and allocation via COVAX, an international mechanism launched to ensure vaccine access for all.

The CEPI was set up in 2017 to fight emerging epidemics and is backed by 14 governments, the Bill and Melinda Gates Foundation and Britain’s Wellcome Trust.

SK Bioscience, once it completes the ongoing phase 2 study, plans to submit an application for multinational phase 3 trials. It aims for a commercial rollout within the first half of next year through emergency use authorization.

(khnews@heraldcorp.com)