Property developer Yong Tai Bhd has signed an agreement (HoA) with China-based Shenzhen Kangtai Biologic Products Co Ltd (SZKT) to propose cooperation for the exclusive development and commercialization of the inactive Covid-19 vaccine in Malaysia.
For everyone's knowledge, SZKT is currently developing Covid-19 Inactivated Vaccine (Vero Cells) against coronavirus. Through the collaboration, Yong Tai will be SZKT's partner in Malaysia to conduct Level III clinical trials and the commercialization of exclusive vaccines.
In addition, they have also entered into an advisory and service agreement (ASA) with Klinsel Sdn Bhd to appoint Klinsel as a Contract Research Organization (CRO) for the proposed clinical study of the Covid-19 vaccine to be implemented in Malaysia.
If Phase III clinical trials are terminated or emergency use consent is successfully obtained in Malaysia, they plan to cooperate in a vaccine acquisition program of around 100 million doses of vaccine within 5 years with a quantity of the first 3 years of not less than 20 million doses per year.
Meanwhile, SZKT, which is listed on the Shenzhen Stock Exchange, is alleged to be active in the development and manufacture of human vaccines. It even has more than 30 types of vaccines under development. Kinsel is a CRO that offers a comprehensive package of research services for the pharmaceutical and biotechnology industries.
Accordingly, shares in Yong Tai recorded an increase of 7 sen or 23.73% to close at 36 sen per share today, with a market capitalization of RM373.91 million.
