PT Kalbe Genexine Biologics (KGBio), unit of private pharmaceutical company, PT Kalbe Farma Tbk (IDX: KLBF), signed a license agreement with South Korea' Genexine with total values US$1.1 billion - Photo by President Office

JAKARTA (TheInsiderStories) – PT Kalbe Genexine Biologics (KGBio), unit of private pharmaceutical company, PT Kalbe Farma Tbk (IDX: KLBF), signed a license agreement with South Korea’ Genexine, the management announced today. Both plans to develop and commercialize Efineptakin Alpha, which is a long-acting interleukin-7 uses the HyFc Genexine technology platform.

President director of KGBio and director of Kalbe, Sie Djohan, announced that 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, he adds.

“It is very strategic for us to build a product portfolio so it can provide an innovative therapeutic products to 655 million people in Southeast Asia through Kalbe‘ sales and marketing network and continues to be developed in India, Oceania and the Middle East,” he noted in a statement released on Friday (02/19).

In addition to the GX-I7 clinical trial, KGBio is also conducting a phase-2 clinical trial for the COVID-19 vaccine in Indonesia. The company had received approval for the implementation of clinical trials from the Indonesian Food and Drug Supervisory Agency.

Last month, the drug-maker has received an investment from General Atlantic, a global financial investor company from America, in the form primary capital amounting to $55 million. 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.

KGBio was founded in 2016 as a joint venture between Kalbe Farma and Genexine (listed on the KOSDAQ exchange with code 095700). President director of Kalbe, Vidjongtius, emphasized that the vaccine production by KGBio will be ready to circulate commercially as early as mid-2021.

While, Chairman of Kalbe, Irawaty Setiady, and 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.

For this year, the manufacturer prepared an investment of Rp1 trillion to produces COVID-19 vaccines around 50 million doses. Beside with Genexine and General Atlantic, the company has collaborated in marketing and distribution of the antiviral drug Covifor or Remdesivir with the Indian company Hetero, PT Amarox Pharma Global in an effort to treat critical stage COVID-19 patients in Indonesia.

Kalbe also set up a consortium with other South Korea institutions like Binex, International Vaccine Institute, Genbio, the Korea Advanced Institute of Science & Technology, and Pohang University of Science & Technology. The vaccine candidate being developed was named GX-19. The 2020′ investments is used to complete two factories in Cikarang, West Java, used for over-the-counter drugs.

Written by Editorial Staff, Email: theinsiderstories@gmail.com