RDIF, GL Rapha and ISU ABXIS to cooperate for production of Sputnik V in Korea

RDIF, GL Rapha and ISU ABXIS to cooperate for production of Sputnik V in Korea

Moscow, April 15, 2021 – The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), 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.

In February 2021, GL Rapha completed organizing the consortium for production of Sputnik V in Korea including 8 leading pharmaceutical companies.

The agreement between RDIF, GL Rapha and ISU ABXIS is the first trilateral contract for technology transfer with a company belonging to the Korean consortium. 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.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:

“Korea is one of our major partners for production of Sputnik V and thanks to the agreement with ISU ABXIS we expect to increase production facilities in the country. Sputnik V is approved for use in 60 countries with total population of 3 billion people and we keep ramping up the production to meet the rising demand for the Russian vaccine.”

Soohyun Jeong, Head of Business Development of ISU ABXIS, said:

“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”.