Generex inks agreement for li-Key vaccine platform technology

KUALA LUMPUR: Bintai Kinden Corporation Bhd’s partner Generex Biotechnology Corporation has inked an US$50 million Licensing and Development Agreement with a consortium of partners in China for the Ii-Key vaccine platform technology.

The technology is owned by Generex’s subsidiary NuGenerex Immuno-Oncology Inc.

Bintan Kinden managing director Ong Choon Lui said the collaboration between Generex and its China partners would advance the li-Key vaccine development platform.

He said the agreement incorporated the first IiKey platform project for the development and commercialisation of the Ii-KeySARS-CoV-2 coronavirus (Covid-19) vaccine in China.

It also incorporated a US$5 million upfront licensing fee, 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, he said.

“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 Covid19 vaccine in Malaysia, Brunei, Myanmar, Cambodia, TimorLeste, Indonesia, Laos, the Philippines, Singapore, Thailand, and Vietnam,” he said in a statement.

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 Covid-19 vaccine is 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 the deadly virus and other pandemic threats.