PETALING JAYA : Bintai Kinden Corp Bhd’s partner Generex Biotechnology Corp has signed a US$50 million (RM204.87 million) licensing and development agreement with a consortium of partners in China for the Ii-Key vaccine platform technology from Generex’s subsidiary NuGenerex Immuno-Oncology Inc.
Under the terms of the deal, Generex will receive a licensing fee of up to US$50 million for the exclusive use of the Ii-Key vaccine platform for infectious disease and cancer in China and its territories.
For each product developed using the Ii-Key technology under the platform licence, Generex will receive an upfront payment, full funding for product development, regulatory approval, and commercialisation in China, a success fee upon product approval, and a royalty payment that will be determined on a case-by-case basis.
The agreement incorporates the first Ii-Key platform project for the development and commercialisation of the Ii-Key-SARS-CoV-2 coronavirus vaccine (Covid-19 vaccine) in China, with a US$5 million upfront licensing fee, 100% 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.
Bintai Kinden managing director Ong Choon Lui foresees the collaboration between Generex and its China partners to advance the li-Key vaccine development platform.
“The Covid-19 vaccine is the first product under this li-Key platform license. This bode well for Bintai Kinden as we have the exclusive rights to distribute, sell and commercialize the Covid-19 vaccine in Malaysia, Brunei, Myanmar, Cambodia, TimorLeste, Indonesia, Laos, Philippines, Singapore, Thailand and Vietnam,” he added.
