JAKARTA. PT Kalbe Farma Tbk (KLBF) would initiate equity participation in SL Pogen Inc (SLP), a South Korea-based vaccine manufacturer, of KRW 5.58 billion or approximately IDR 70.1 billion.
Lukito Kurniawan Gozali, Corporate Secretary of Kalbe Farma, says that SLP is a joint venture established by Genexine Inc Korea and Postech Holdings Co Ltd. This company, which is found in December 2016, focuses on vaccine DNA development for patients with specific medications.
After the investment is finalised, KLBF would own 33.36% of SLP. Genexine would still control 63.65% of its shares, Postech 0.6%, and Pohang University of Science and Technology 2.39%.
The equity participation by KLBF in SLP tightens the business cooperation with Genexine. Previously, Kalbe Farma had established a joint company with Genexine, PT Kalbe Genexine Biologics.
According to the latest news in idnfinancials.com, KLBF had recently acquired permission from the National Agency of Drugs and Food Control to conduct clinical testing phase 2b/3 for COVID-19 vaccine, GX-19N, in Indonesia. This vaccine is a result of the collaboration among Kalbe Fama, Genexine, and pharmaceutical companies consortium. (KR/ZH)