SK Bioscience Co., the vaccine unit of South Korean conglomerate SK Group, said Monday it received a $3.6 million grant from the Bill & Melinda Gates Foundation for its development of a COVID-19 vaccine.

The Korean vaccine maker is one of many in the global race to find a COVID-19 vaccine candidate that can generate effective antibodies against the virus. It is aiming to start clinical trials in September.

SK Bioscience said it plans to discuss how to use the funding with the Coalition for Epidemic Preparedness Innovations, a global alliance that has been coordinating the worldwide vaccine development effort for COVID-19.

Ahn Jae-yong, chief executive of SK Bioscience, said he was happy to join hands again with the Gates Foundation after working with the organization in pediatric gastroenteritis and thyphoid vaccination.

“With a commitment to helping humankind, we’ll devote all our efforts into finding a COVID-19 vaccine,” he said.

By Kim Byung-ho and Kim Hyo-jin

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