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
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
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.”.
ABOUT HO WAH GENTING
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.
ABOUT E-MO BIOLOGY INC.
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.