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