I would think they probably saw some data because
Post# of 36537
Since they are funding, I'd think they want to see actual data on it.
Just my thoughts.
100% funding for development, manufacturing and commercial registration of Ii-Key- SARS-CoV-2 prophylactic vaccine against COVID-19 in Malaysia
Milestone payments totaling $17.5 million upon approval by Malaysian Ministry of Health
Contracted royalty of $3 - $4.50 per dose of vaccine
Potential $150 million in GNBT revenues for vaccine sales in Malaysia