PETALING JAYA: Ho Wah Genting Bhd’s wholly owned subsidiary HWGB Biotech Sdn Bhd today signed a memorandum of agreement with US-based E-Mo Biology Inc (EBI) to invest in phase IV clinical trials for a new indication which proposes the use of existing poliomyelitis virus vaccines for prevention of Covid-19 and the research and development, testing, registration, manufacturing and commercialisation of five provisional patent applications.
EBI is principally engaged in biology research and development. EBI had in June submitted the Initial Investigational New Drug application to the United States Food and Drug Administration, which is pending approval.
Ho Wah CEO Datuk Lim Ooi Hong believes the eventual collaboration with EBI will enable a preventative vaccine to be made available soon.
“The proposed collaboration is expected to contribute positively to the earnings of Ho Wah upon the successful commercialisation of the vaccines,” Lim added.
The proposed collaboration will see Ho Wah investing US$1 million into EBI entitling the company to 40% of the total profit from the commercialised vaccine. Ho Wah will also have exclusive rights for the production, distribution and sale of the repurposed vaccine based on the polio vaccine for use in preventing Covid-19 infections in Southeast Asian countries.
In addition, Ho Wah will have the right to retain all profits from the vaccines, as well as a royalty-free licence together with the granting of sublicences for the use of the trademark and other intellectual property rights in relation to the vaccines in the Southeast Asian countries.