24 November 2020 | News
International Vaccine Institute, VITAL-Korea sign MoU for cooperation on vaccine R&D
The International Vaccine Institute (IVI) and the Vaccine Innovative Technology ALliance Korea (VITAL-Korea) agreed to join forces to promote vaccine research and development for global health.
IVI and VITAL-Korea signed a Memorandum of Understanding (MoU) to commit to cooperation on vaccine R&D at IVI headquarters recently. In attendance at the MoU signing ceremony were Dr Jerome Kim, Director General and Dr Manki Song, Deputy Director General, IVI, and Prof Baik Lin Seong, Director General (Professor at Yonsei University) and Sung-Ho Park, Director, VITAL-Korea. Under the MoU, the two sides are to establish a collaborative relationship to (1) promote innovative vaccine research & development in Korea, (2) exchange information on global vaccine research & business development networks, and (3) co-host vaccine-related events.
VITAL-Korea is a new initiative launched this year by the Ministry of Health and Welfare. VITAL-Korea will invest a total of ₩215 billion over the next 10 years from April 2020 to strengthen Korea’s vaccine self-sufficiency and public safety.
“The International Vaccine Institute is the world’s only international organisation dedicated to the development of vaccines for the public sector market. Over the past 23 years, IVI has played a significant role in turning Korea into a global biotechnology leader,” Prof Seong said. “Through a practical and comprehensive R&D collaboration with IVI, we will pool resources and wisdom to develop and commercialise vaccines for the Korean public and global health.”
“Korea is globally competitive in biotechnology and medical research. Coupled with the government’s commitment to the sector, the country is emerging as a global vaccine powerhouse,” Dr Kim said. “As an international organisation devoted to vaccine development, IVI has been strengthening cooperation between academia, industry, and the government in Korea and around the world. By partnering with VITAL-Korea, we will help accelerate research, development and globalisation of safe and effective vaccines, reducing the burden of disease and death caused by infectious pathogens.”
Image caption- Dr. Jerome Kim (left), Director General of IVI, and Professor Baik Lin Seong, Director General of VITAL-Korea