KUALA LUMPUR: Bintai Kinden Corp Bhd's partner Generex Biotechnology Corp has achieved another milestone for the development and commercialisation of its li-Key technology.
Generex has today signed a US$50 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.
In a statement today, Bintai said under the terms of the deal, Generex would 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 to be determined on a case-by-case basis.
Bintai Kinden managing director Ong Choon Lui said the collaboration between Generex and its China partners would advance the li-Key vaccine development platform.
"The Covid-19 vaccine is the first product under this li-Key platform licence. This bodes well for Bintai Kinden as we have the exclusive rights to distribute, sell and commercialise the Covid-19 vaccine in Malaysia, Brunei, Myanmar, Cambodia, Timor- Leste, Indonesia, Laos, the Philippines, Singapore, Thailand and Vietnam," he added.
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.
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.
It also entails a 100 per cent 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 said the Covid-19 vaccine was designed as a "Complete Vaccine" that has the potential to induce the T-Cell and antibody immune responses in a highly specific manner that can provide protective immunity with long-lasting immunologic memory against Covid-19 and other pandemic threats like Covid-19 and swine flu.
Generex had on November 5 signed a framework agreement with the China CDC, Beijing Guoxin Haixiang Equity Investment Partnership, and Beijing Youfeng International Consulting Co Ltd for the development and commercialisation of the Covid-19 vaccine in China.
