Russia's RDIF, S. Korean Biotech Firms Agreed On Sputnik V Vaccine Production In S. Korea

MOSCOW (UrduPoint News / Sputnik - 15th April, 2021) The Russian Direct Investment Fund (RDIF) announced on Thursday that it reached an agreement with South Korea's biotech companies GL Rapha and ISU ABXIS on technology transfer and production of Russia's Sputnik V vaccine against COVID-19 in the country.

"RDIF, GL Rapha, one of the leading South Korean bio-tech companies, and ISU ABXIS (a subsidiary of ISU GROUP) have signed an agreement for technology transfer and production of the Russian Sputnik V vaccine against coronavirus in Korea ... The pilot production of the vaccine at the facility of ISU ABXIS located in Yong-In is expected to begin at the end of April," RDIF said in a press release.

RDIF CEO Kirill Dmitriev qualified South Korea as a major partner for Sputnik V production and expressed hope to increase production facilities in the country.

"It is the first case of the consortium that officially signed a contract with RDIF along with the actual technology transfer and with continuous communication, ISU ABXIS, will do our best to settle the production technology and the sufficient supply of Sputnik V as soon as possible," ISU ABXIS Head of business Development Soohyun Jeong said, as quoted in the press release.