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  2020-09-30 10:00:32

Ho Wah Genting Berhad making headway in COVID-19 prevention vaccine

KUALA LUMPUR 29 SEPTEMBER 2020, Ho Wah Genting Berhad’s (“HWGBor the “Company”) (Bursa Stock Code:9601) wholly-owned subsidiary, HWGB Biotech Sdn Bhd (“HWGB Biotech”) [formerly known as HWG Consortium Sdn Bhd] and its joint venture partner, US-based E-MO Biology Inc (“EBI”) is making headway in developing vaccines for the prevention of Severe Acute Respiratory Syndrome Coronavirus pandemic and other relevant diseases.
Following a partnership inked on 6 August 2020, HWGB Biotech shall invest and EBI shall undertake Phase IV clinical trials using existing poliomyelitis virus vaccines (PVV) for prevention of Covid-19, under strict protocol of health regulator in the US.
Additionally, EBI will also carry out the research and development (R&D), testing, registration and commercialization of the 5 provisional patent applications and other activities relating to the patents for the purpose of treating the diseases.
EBI is currently awaiting the necessary approval from the United States Food and Drug Administration (“US FDA”) to conduct phase IV clinical trials for a new indication which proposes the use of PVV for prevention of COVID-19. On 25 August 2020, the US FDA requested further information from EBI on the Investigational New Drug Application (IND) which proposes the use of PVV for prevention of Covid-19.
HWGB Biotech shall not be required to pay any other amount of the investment sum until pre-approval or exemption from the US FDA for the IND is received and the assignment of the patents are completed.
With the positive stride, HWGB Biotech entered into a Memorandum of Understanding with Xinkexian (Beijing) Biotechnology Co., Ltd (“XKX”) on 9 September 2020 on a non-exclusive basis whereby XKX will manufacture the vaccines upon successful completion of R&D and obtaining approval from the US FDA.
In view of the positive progress in the project, EBI inked three agreements - the appointment of Dr John Andrews, a veteran in vaccine development and clinical phase IV study to support the IND submitted to US FDA which proposes the use of PVV for prevention of Covid-19.  Secondly, engage the services of Roderick A Comunale II MD Inc to conduct clinical research on the effects of Inactivate Polio Vaccine (IPV) in accordance with the US FDA approved protocol.
Thirdly, EBI has also collaborated with America Diagnostic & Genescan Diagnostics Inc (“ADGD”) as a strategic partner involved with research, development and production of the companion diagnostics systems.
EBI will engage ADGD to conduct a series of immunology essays in supporting the potential clinical research.
"We believe we are in a solid footing and progressing in developing vaccine for Covid-19 prevention, and we are quite certain to be a relevant player in producing a reliable vaccine to be used not only in Malaysia but within the larger market in the region," HWGB chief executive officer Dato’ Aaron Lim said.
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.