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Posted On: 09/22/2020 10:58:18 PM
Post# of 36566
https://www.bioworld.com/articles/498082-othe...pt-22-2020
Generex Biotechnology Corp., of Miramar, Fla., said that together with Bintai Kinden Corp., of Malaysia, they signed an addendum binding the terms of a previously signed memorandum of understanding for the development and commercialization of the Ii-Key-SARS-CoV-2 coronavirus vaccine. Under the terms, they will finalize the legal and contractual documentation for the contract, partnership, and licensing and research agreement, and Bintai will pay Generex an up-front licensing fee of $2.5 million. Additionally, Bintai will pay 100% of the funding required for the commercial development of the Ii-Key-CoV-2 vaccine for regulatory approval of the vaccine in Malaysia. Also, upon approval, Bintai will pay a $17.5 million milestone payment, and Generex will earn royalties on sales of the vaccine equal to $3 per dose on government sales and $4.50 per dose in the private sector. Bintai will also have the right of first refusal for the vaccine in Australia, New Zealand and the global HALAL markets, particularly in Southeast Asia.
Generex Biotechnology Corp., of Miramar, Fla., said that together with Bintai Kinden Corp., of Malaysia, they signed an addendum binding the terms of a previously signed memorandum of understanding for the development and commercialization of the Ii-Key-SARS-CoV-2 coronavirus vaccine. Under the terms, they will finalize the legal and contractual documentation for the contract, partnership, and licensing and research agreement, and Bintai will pay Generex an up-front licensing fee of $2.5 million. Additionally, Bintai will pay 100% of the funding required for the commercial development of the Ii-Key-CoV-2 vaccine for regulatory approval of the vaccine in Malaysia. Also, upon approval, Bintai will pay a $17.5 million milestone payment, and Generex will earn royalties on sales of the vaccine equal to $3 per dose on government sales and $4.50 per dose in the private sector. Bintai will also have the right of first refusal for the vaccine in Australia, New Zealand and the global HALAL markets, particularly in Southeast Asia.
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