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KUALA LUMPUR: Bintai Kinden
Bhd’s partner, Generex Biotechnology Corporation, has signed a $ 50 million development and license agreement for its Ii-Key vaccine platform technology.
It said Thursday that the agreement, which was signed with its partners in China, was for technology provided by Generex’s subsidiary, NuGenerex Immuno-Oncology Inc.
Generex will receive a license fee of up to US $ 50,000 for the exclusive use of the Ii-Key vaccine platform for infectious diseases and cancer in China and its territories.
For each product developed with Ii-Key technology, Generex will receive an advance payment, full financing for product development, regulatory approval and commercialization in China, a success fee after product approval and a royalty to be determined on a case-by-case basis. case. -Base of cases.
The agreement includes the first Ii-Key platform project for the development and commercialization of the Ii-Key-SARS-CoV-2 coronavirus vaccine or the Covid-19 vaccine in China.
This comes with an initial license fee of US $ 5,000, 100% financing for manufacturing, development and business registration, a success fee of US $ 20,000 for the approval of Covid-19 in China and royalty payments for sales of the Covid-19 vaccine in China.
On November 5, Generex signed a framework agreement with the China CDC, Beijing Guoxin Haixiang Equity Investment Partnership and Beijing Youfeng International Consulting Co., Ltd to develop and commercialize the Covid-19 vaccine in China.
Bintai Kinden Managing Director Ong Choon Lui hopes that the collaboration between Generex and its partners in China will advance the li-Key vaccine development platform.
He said the vaccine is the first product under this li-Key platform license. This bodes well for Bintai Kinden, as it has the exclusive rights to distribute, sell and market the vaccine in Malaysia, Brunei, Myanmar, Cambodia, Timor-Leste, Indonesia, Laos, the Philippines, Singapore, Thailand, and Vietnam.
Bintai Kinden has also been granted the first refusal right to distribute and market the vaccine in Australia, New Zealand and the global halal market.
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