Nova Pharma gets National Institute of Biotechnology contract

PETALING JAYA: Nova Pharma Solutions Bhd (NPS) has accepted a letter of acceptance from the National Institutes of Biotechnology Malaysia (NIBM) to undertake equipment procurement and facility upgrade for NBIM’s national vaccine production development and enhancement programme.

In a filing with Bursa Malaysia, NPS said the project will take place at the Malaysia Genome and Vaccine Institute, which is located within NIBM's premises in Kajang, Selangor.

“The project will not have any effect on the share capital and shareholding structure of the company.

“The project is expected to contribute positively to earnings and net assets per share of NPS from the financial year ending Dec 31, 2024 until the completion of the project.”

NPS said it intends to carry out the project via internally generated funding and bank borrowings.