COVID-19 vaccine producer Jiangsu Recbio Technology Co Ltd – located in the Taizhou Medical High Tech Zone in Taizhou city, in East China's Jiangsu province – broke ground on a vaccine expansion project with an investment of 1.08 billion yuan ($158.66 million) on Feb 6.
The new facility, to focus on human papillomavirus or HPV vaccinations and COVID-19 vaccines, is projected to hit annual sales of more than 10 billion yuan after ramping up to full operations.
To date, Recbio Technology has established a high-value and innovative vaccine portfolio consisting of over 10 differentiated products. Its product line covers 9-valent HPV vaccines, recombinant COVID-19 vaccines, recombinant herpes zoster vaccines, recombinant tuberculosis vaccines and other areas.
Previously, the bio-pharmaceutical group submitted product launch applications for its recombinant COVID-19 vaccine ReCOV and the product is projected to become one of the world's most competitive second-generation COVID-19 vaccines.
Furthermore, the 9-valent HPV vaccine REC603, a core product for the company, is currently in phase III clinical trials and is expected to be the first domestic 9-valent HPV vaccine to be marketed.
Plans are for Recbio Technology, founded in 2012 in the Taizhou Medical High Tech Zone, to continue to increase its investment and projects, to help drive the high-quality development of Taizhou's big health industry, said company founder Liu Yong.