Bintai Kinden partner Generex inks US$50m deal for vaccine

Bintai Kinden managing director Ong Choon Lui expects the collaboration between Generex and its China partners to advance the li-Key vaccine development platform.

KUALA LUMPUR: Bintai Kinden Bhd's partner Generex Biotechnology Corporation has signed a US$50mil licensing and development deal for its Ii-Key vaccine platform technology.

It said on Thursday the agreement, which was signed with its partners in China, was for the technology provided by Generex’s subsidiary NuGenerex Immuno-Oncology Inc.

Generex will receive a licensing fee of up to US$50mil 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, 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 to be determined on a case-by-case basis.

The agreement includes the first Ii-Key platform project for the development and commercialisation of the Ii-Key-SARS-CoV-2 coronavirus vaccine or Covid-19 vaccine in China.

This comes with a US$5mil upfront licensing fee, 100% funding for manufacturing, development and commercial registration, a US$20mil success fee for approval Covid-19 in China, and royalty payments for Covid-19 vaccine sales in China.

Generex had on Nov 5, signed a framework agreement with the China CDC, Beijing Guoxin Haixiang Equity Investment Partnership and Beijing Youfeng International Consulting Co., Ltd to develop and commercialise the Covid-19 vaccine in China.

Bintai Kinden managing director Ong Choon Lui expects the collaboration between Generex and its China partners to advance the li-Key vaccine development platform.

He said the vaccine is the first product under this li-Key platform licence. This bode well for Bintai Kinden as it has the exclusive rights to distribute, sell and commercialise the vaccine in Malaysia, Brunei, Myanmar, Cambodia, Timor-Leste, Indonesia, Laos, the Philippines, Singapore, Thailand and Vietnam.

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.