Solution unit inks term sheet deal to supply vaccines

“The term sheet agreement is to enable Solbio to enter into a definitive agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine for the prevention of Covid-19. The vaccine is jointly developed by CanSino Biologics Inc and Beijing Institute of Biotechnology, Academy of Military Medical Sciences, ” the company said in a filing with Bursa Malaysia.

PETALING JAYA: Technology firm Solution Group Bhd’s unit Solution Biologics Sdn Bhd (Solbio) said it has signed a term sheet agreement with the Health Ministry to supply Covid-19 vaccines to the government.

“The term sheet agreement is to enable Solbio to enter into a definitive agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine for the prevention of Covid-19. The vaccine is jointly developed by CanSino Biologics Inc and Beijing Institute of Biotechnology, Academy of Military Medical Sciences, ” the company said in a filing with Bursa Malaysia.

The company said the term sheet agreement represents an offer by either party to be used to eventually prepare for a definitive supply agreement between the parties.

It said the supply agreement should be finalised and signed within 30 days after the term sheet agreement is signed or within such extension of time as may be mutually agreed by the parties in writing.

The government, through the Health Ministry will purchase 3.5 million vials of vaccine from Solbio, it said.

“The vaccine will be delivered from the Solbio storage facility to the government appointed central store or logistics partner, ” the company said.

The planned purchase of the vaccine is also subject to Solbio having successfully obtained the product registration and market authorisation of the vaccine in Malaysia from the drug control authority by April 2021, the company said.