JAKARTA (TheInsiderStories) - Pharmaceutical firm, PT Kalbe Farma Tbk (IDX: KLBF), targeting the second phase clinical trials of COVID-19 vaccine in the second quarter and the commercialization at the end of 2021, said the director on Tuesday (04/20). The drug-maker produces the vaccine collaborating with South Korea’ biotechnology firm, Genexine Inc., (KOSDAQ: 095700).
in February, the unit of the manufacturer, PT Kalbe Genexine Biologics (KGBio) has signed license agreement with Genexine to develop and commercialize Efineptakin Alpha, which is a long-acting interleukin-7 uses the HyFc Genexine technology platform. The license agreement have a total values of US$1.1 billion, including an upfront payment of $27 million.
The development and commercialization license cover the Middle East, Oceania, India, Africa and all regions of Asia except China, Japan and Korea. In addition to the GX-I7 clinical trial, KGBio is also conducting a phase-2 clinical trial for the vaccine in Indonesia. The company had received approval for the implementation of clinical trials from the Indonesian Food and Drug Supervisory Agency.
Finance director of the drug-maker, Bernadus Karmin Winata, hope to get a clinical trial permit for the vaccine in this month and get authorization from the regulator in the fourth quarter of 2021. As planned, the clinical trial will be conducted on a minimum of 2,000 patients.
He also reported, its subsidiary, PT Enseval Megatrading Tbk (IDX: EPMT), has won a COVID-19 vaccine distribution contract from state-firm, PT Bio Farma. He emphasized that the unit received quota to distribute vaccine in seven provinces, majority in Sumatra and a small part in Kalimantan. The manufacturer also has launched a COVID-19 test kit that uses saliva samples in March.
KGBio was founded in 2016 as a joint venture between Kalbe Farma and Genexine. President director of Kalbe, Vidjongtius, emphasized that the vaccine production by KGBio will be ready to circulate commercially as early as mid-2021. Earlier, the company has received an investment from General Atlantic, a global financial investor company from America, in the form primary capital amounting to $55 million.
Sandeep Naik, managing director and head of India & Southeast Asia at General Atlantic, commented, the partnering between the two parties to help their vision become the market leader in the Southeast Asia and beyond. In 2019, KGBio also signed a license agreement with Henlius (HK: 2696), a subsidiary of Fosun Pharma, with a value of $692 million, and added HLX10 immune checkpoint inhibitor to its portfolio.
To support their business expansion in this year, said Winata, Kalbe prepared capital expenditure of Rp1 trillion ($68.97 million) to increases the factory capacity, distribution lines and expansion of the marketing network.
UA$1: Rp14,500
Written by Editorial Staff, Email: theinsiderstories@gmail.com