KU Newsletter (December 2014)
KU Bioscience Research Team Develops a Novel Antitumor Agent

Konkuk University (KU) Research and University-Industry Cooperation Foundation announced on May 29, 2015, its conclusion of a contract for transferring the technology of manufacturing live attenuated vaccines (LAV) developed by Prof. Chang Seon Song (KU Dept. of Veterinary Medicine) to three Korean companies specializing in producing animal vaccines: Daesung Microbiological Labs. Co., Ltd., Green Cross Veterinary Products Co., Ltd., and ChoongAng Vaccine Laboratory Co., Ltd. Through this contract, Konkuk will be receiving an advanced payment worth 0.5 billion KRW (or approximately 0.41 million USD) as well as a minimum of 10% of royalty henceforward. Since the animal vaccine developed by KCAV (Konkuk Ctc bio Animal Vaccine) and Prof. Song necessitates a short period of time for commercialization, the income from royalty will be soon actualized.

The initial attempt to enter the market for new companies of new vaccine products is challenging since those products require a long development period and high investment costs, ranging from manufacturing to commercialization. Although the domestic animal vaccine market is vulnerable in terms of responding to the emergence of new foreign companies and new viruses, it is expected that this technology transfer would shorten the development cycle and, in turn, reduce the production cost, which would enable domestic companies to increase their share of the market.