2020-09-09 15:55:44
KUALA
LUMPUR, 09 SEPTEMBER 2020 – Ho Wah Genting Berhad’s (“HWGB”
or the “Company”) (Bursa Stock Code:9601) wholly-owned subsidiary, HWGB
Biotech Sdn Bhd (“HWGB Biotech”) [formerly known as HWG Consortium Sdn Bhd], has
entered into a Memorandum of Understanding (“MoU”) with Xinkexian (Beijing)
Biotechnology Co., Ltd (“XKX”) to explore the appointment of XKX as a
non-exclusive manufacturer to produce Vaccines upon successful completion of
the research and development of vaccines, immunological treatment and
diagnostic product development in relation to COVID-19 virus.
The
appointment of China-based XKX, which will be non-exclusive, is dependent on
the successful completion of the clinical trials that E-Mo Biology Inc.(“EBI”)
will be undertaking to evaluate the effectiveness of the polio vaccines in
preventing COVID-19 infections.
HWGB
Biotech had entered into a Memorandum of Agreement on 6 August 2020 (which was
superseded by a Joint Venture Agreement on 14 August 2020) with E-Mo Biology
Inc.(“EBI”) to collaborate whereby EBI shall undertake phase IV clinical trials
for a new indication which proposes the use of existing poliomyelitis virus
vaccines for prevention of the Diseases and the research and development,
testing, registration, commercialization and other activities for the purposes
of treating infectious disease, including vaccines, immunological treatment,
diagnostic product development and any similar treatments against the Severe
Acute Respiratory Syndrome Coronavirus pandemic and other relevant diseases
(the “Diseases”) including but not limited to new indications which proposes
the use of all types of existing poliomyelitis virus vaccines for prevention of
COVID-19.
XKX
is principally involved in research and development of preventive vaccines for
human use, as well as the manufacturing, marketing and sales of preventive
vaccines; XKX has the production facilities and is able to manufacture
poliomyelitis vaccines, including different strains and formulation and dosage
form systems of oral poliovirus (OPV), Oral Poliovirus (liquid) (OPVL) and
Inactivated Poliovirus Vaccine (IPV) (“Polio Vaccines”) and the new indication
which proposes the use of existing Polio Vaccines for prevention of COVID-19
virus; while HWGB Biotech is a distributor of biotechnology products,
bioinformatics diagnostic tools, medical engineering equipment along with
software developments and tools. It also patents all original products and
by-products, technologies and software developed or sourced by HWGB.
Chief
Executive Officer of HWGB, Dato’ Aaron Lim expressed: “We are taking the step
in signing this MoU as we feel that time is of the essence due to the spread of
COVID-19 and the impact it has on the economy and society. The MoU allows us to
discuss more with a potential partner on the manufacturing of the polio vaccines
should the clinical trials to be undertaken by EBI proves successful”.
“It
also helps that XKX has the production facilities to manufacture poliomyelitis
vaccines, including different strains, formulation and dosage form systems for oral
poliovirus, oral poliovirus (liquid) and inactivated poliovirus vaccines as
this will definitely quicken the process of distribution in Southeast Asia
where COVID-19 infections have not abated”.
***
ABOUT HO WAH GENTING
BERHAD
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
wire and cable and moulded power supply cord sets and cable assemblies for
electrical and electronic devices and equipment; trading of wire and cable; and
travel agent and tour related services.
Please
also feel free to subscribe to our newsletter online to get latest exciting
developments of our new ventures. Click on http://subscription.hwgbbiotech.com
to subscribe.
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