World's First AIDS Vaccine Factory to be Built in Inchon

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World's First AIDS Vaccine Factory to be Built in Inchon

A leading AIDS vaccine maker, Vax Gen, announced Friday that it plans to build the world's first AIDS vaccine factory in Songdo, Inchon.

The U.S.-based vaccine firm signed a 10-year factory site lease with the Inchon city government for a 30,000-pyong facility in Songdo. One pyong is equal to 3.3 square meters. The company plans to build production facilities as well as a research center.

Vax Gen is due to complete development and clinical tests for its AIDS vaccine, AIDSVAX, by 2005.

The company is currently negotiating with local investors for the construction of the factory, expected to require some $150 million. Construction if due to begin in the second quarter next year.

``Construction of the AIDS vaccine plant in Inchon is part of the national government's and Inchon city's plan to nurture Inchon into a global bioengineering industry leader,'' said Inchon city government.

sjkim@koreatimes.co.kr

ÀÔ·Â½Ã°£ 2001/10/21 17:19

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