SK Plasma said on the 5th that on the 3rd it signed a technology transfer and license agreement worth a total of €65 million with the Turkish joint venture ProturkİlaçSanayi ve Ticaret A.Ş. (ProturkİlaçSanayi ve Ticaret A.Ş.).
The contract amount is about 110 billion won after taxes. This is the largest license agreement on an individual contract basis since SK Plasma was founded in 2015.
Proturk was established in Nov. last year as a joint venture with the Turkish Red Crescent (Kizilay, the Red Cross in the Islamic world) to build a plasma fractionation product manufacturing plant.
The company said that, in addition to technology royalties, SK Plasma is set to acquire 15% equity for €150,000, creating a structure that will allow it to receive dividends on an ongoing basis depending on management performance.
Under this agreement, SK Plasma will grant Proturk a license to produce products at Turkish manufacturing facilities to be built in the future and will transfer research and development (R&D) and production-related technologies.
SK Plasma plans to expedite the technology transfer to the Turkish local entity to accelerate the construction of production infrastructure. The company will gradually transfer the manufacturing, production, and quality control systems accumulated through the establishment and operation of the Andong plant. To that end, it said it will standardize the technology transfer procedures based on a "technology handover manual" and systematically manage risks that may arise during the transfer process.
The company projected that once the annual 600,000-liter production facility is completed in the Cubuk area of Ankara, Türkiye will establish a system to stably supply essential medicines such as albumin and immunoglobulin, which had relied 100% on imports.
Kim Seung-ju, CEO of SK Plasma, said, "This solution is a unique model that transfers SK Plasma's overall operating system locally and will become the core platform of the localization solution business model going forward."