Quick take: Bintai Kinden rises on partnership deal

KUALA LUMPUR: Bintai Kinden Corp Bhd’s shares rose marginally in early trade Friday after its partner signed an agreement to to develop and commercialise a coronavirus vaccine in China.

The counter added one sen to 72.5 sen with 20 million shares done.

Bintai Kinden’s partner Generex Biotechnology Corporation has entered a framework agreement with Chinese agencies to develop and commercialise a coronavirus vaccine in China.

Generex had entered the agreement with China Center for Disease Control and Prevention, Beijing Guoxin Haixiang Equity Investment Partnership and Beijing Youfeng International Consulting Co Ltd.

Under the terms of the agreement, Generex will receive upfront development fees and back-end licensing payments to conduct the research and development and fully fund the commercial approval of the Ii-Key-CoV-2 vaccine.

Bintai Kinden's subsidiary Bintai Healthcare Sdn Bhd has a distribution and licensing agreement with Generex for its Covid-19 vaccine in Malaysia.