With the FDA approval, HWGB chief executive officer Datuk Aaron Lim (pic) said the repurposing of the proven polio virus vaccines could fast track the Covid-19 vaccine development to save lives
PETALING JAYA: US-based E-MO Biology Inc, the joint-venture partner of Ho Wah Genting Bhdusiness/marketwatch/stocks/?qcounter=GENTING' target='_blank'>Genting Bhd’s (HWGB) wholly-owned subsidiary, HWGB Biotech Sdn Bhd, has obtained approval from the US Food and Drug Administration (FDA) to conduct phase IV clinical trials for a vaccine against Covid-19.
In a statement, HWGB said HWGB Biotech would invest US$1mil (RM4.16mil) and would be entitled to 40% of the total net profit.
“The race to conduct Covid-19 vaccine trials on humans started since March. Only a few multinational pharmaceutical companies have entered Phase III clinical trial to test the efficacy and side effects of the vaccines developed.
“Phase IV clinical trial (also known as post-marketing study) is conducted upon FDA approval. The objective is to collect additional information about side-effects and safety, long-term risks and potential benefits, and/or how well the vaccine works when used widely on several thousand people, ” the company said.
HWGB Biotech also will enjoy exclusive rights for the production, distribution and the sale of the repurposed vaccine based on the polio vaccine for use in preventing Covid-19 infections in South-East Asian countries.
With the FDA approval, HWGB chief executive officer Datuk Aaron Lim said the repurposing of the proven polio virus vaccines could fast track the Covid-19 vaccine development to save lives
“Once the clinical trial is proven that the polio vaccines is effective for prevention of Covid-19, we will start to mass produce the vaccine to be distributed across South-East Asia, ” he said in the statement.