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  2020-08-14 20:20:52

Ho Wah Genting Berhad officially in the race for COVID-19 vaccine

Followed by the MoA signed with EBI on 06 August 2020;
KUALA LUMPUR, 14 AUGUST 2020 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (KLSE:9601), through its wholly owned subsidiary HWGB Biotech Sdn Bhd (“HWGB Biotech”) today signed a joint venture agreement (“JVA”) with US-based E-MO Biology Inc. (“EBI”) for the research and development (“R&D”) of vaccines, immunological treatment and diagnostic product development in relation to the COVID-19 virus, followed by the Memorandum of Agreement signed on 06 August 2020.
The Company says under the JVA, EBI is responsible to undertake phase IV clinical trials for a new indication which proposes the use of existing poliomyelitis virus vaccines (“Polio Virus Vaccines”) for prevention of the infectious disease, including vaccines, immunological treatment, diagnostic product development and any  similar treatment against the Severe Acute Respiratory Syndrome Coronavirus 2 (“SARS-co-V2”) pandemic and other relevant diseases. Additionally, EBI will be also carried out the R&D, testing, registration and commercialization of the 5 provisional patent application and other activities relating to the patents which EBI owns, for the purpose of treating the diseases.
Under the JV, HWGB will invest US$1 million and be entitled to 40% of the total net profit from the commercialised vaccine as a sponsor of EBI. Furthermore, the Company will enjoy exclusive rights for the production, distribution and the sale of the repurposed vaccine based on the polio vaccine for use in preventing COVID-19 infections in Southeast Asia countries.
The vaccine is currently awaiting the necessary approval from the United States Food and Drug Administration (“FDA”) to conduct phase IV clinical trials for a new indication which proposes the use of existing poliomyelitis virus vaccines (“polio vaccines”) for prevention of COVID-19.
Chief Executive Officer of HWGB, Dato’ Lim Ooi Hong (Dato’ Aaron Lim) expressed, “We hope the repurposing of the proven polio virus vaccines can fast track the Covid-19 vaccine development to save lives, as the situation now is dire. Additionally, the JV represents a further step to firm up the collaboration of both parties’ that will be beneficial for both.”.
Ho Wah Genting Berhad (“HWGB” or the “Company”) is principally engaged in investment holdings and the provision of management services to its subsidiaries. The Company had on 30 June 2020 diversified its existing businesses to include healthcare related industry which mainly involved in Health Supplement, Biotechnology and Health Technology. In addition, the Company and its subsidiaries (“HWGB Group” or the “Group”) are also engaging in the businesses of Investment holdings; manufacturing of wires and cables and moulded power supply cord sets and cable assemblies for electrical and electronic devices and equipment; Trading of wires and cables; and travel agent and tour related services.
Emo-Biology Inc (“EBI”) was incorporated in the state of California in the United States of America on 24 May 2020. It is principally involved in conducting biology research and development activities and is the sponsor of a study which indicates booster polio vaccine to reduce Covid-19 SARS-COV-2 infection and severity.
EBI is founded by Xie QiYi, who serves as its Managing Director of EBI. He has over 30 years of experiences in areas of public health and infection disease control. He was also involved in the development of medical and diagnostic devices, with focus on Quality, Regulatory and Clinical Affairs for quality systems.