BINTAI (6998) Bintai Kinden Corporation Bhd’s partner Generex inks agreement for Li-Key vaccine platform technology
KUALA LUMPUR (Nov 19): Bintai Kinden Corporation Bhd’s partner Generex Biotechnology Corporation has inked an US$50 million Licensing and Development Agreement with a consortium of partners in China for the Ii-Key vaccine platform technology.
The technology is owned by Generex’s subsidiary NuGenerex Immuno-Oncology Inc.
Bintan Kinden managing director Ong Choon Lui said the collaboration between Generex and its China partners would advance the li-Key vaccine development platform.
He said the agreement incorporated the first Ii-Key platform project for the development and commercialisation of the Ii-Key-SARS-CoV-2 coronavirus (COVID-19) vaccine in China.
It also incorporated a US$5 million upfront licensing fee, 100 per cent funding for manufacturing, development and commercial registration, a US$20 million success fee for approval COVID-19 in China, and royalty payments for COVID-19 vaccine sales in China with the potential to reach several billion dollars, he said.
“The COVID-19 vaccine is the first product under this li-Key platform licence.
“This bodes well for Bintai Kinden as we have the exclusive rights to distribute, sell and commercialise the COVID-19 vaccine in Malaysia, Brunei, Myanmar, Cambodia, TimorLeste, Indonesia, Laos, the Philippines, Singapore, Thailand, and Vietnam,” he said in a statement.
Ong said Bintai Kinden has also been given the first right of refusal to distribute and market the vaccine within Australia, New Zealand and the global halal market.
The COVID-19 vaccine is designed as a “complete vaccine” that has the potential to induce the T-Cell and antibody immune responses in a highly specific manner that can provide protective immunity with long-lasting immunologic memory against the deadly virus and other pandemic threats.