PETALING JAYA: Yong Tai Bhd has formalised its collaboration with China’s Shenzhen Kangtai Biological Products Co Ltd by entering into a definitive agreement for the Phase III clinical trials and commercialisation of the latter’s Covid-19 vaccine.
This cements the collaboration that was set up with the head of agreement framework signed in December 2020.
Yong Tai CEO Datuk Boo Kuang Loon said the agreement marks another milestone for the group in its foray into the pharmaceutical business and he is confident that the collaboration will bear fruit in the near term based on Shenzhen Kangtai’s track record.
“Yong Tai will sponsor the cost for the Phase III clinical trials in Malaysia which can be recovered from the commercialisation of the vaccine upon successful completion,” he said in a statement yesterday.
Yong Tai disclosed that the trial will involve 2,880 subjects in Malaysia, receiving the vaccine in two doses 28 days apart.
It will bear the cost of the Phase III clinical trials in Malaysia, while Shenzhen Kangtai will bear the costs for the supply of vaccine, including the cost of transporting the vaccine from China to Malaysia.
Prior to the start of the trials, it has obtained the approval from the Health Ministry’s ethics committee and Malaysia’s National Pharmaceutical Regulatory Authority (NPRA).
Boo said he is confident that the move to diversify the group’s revenue away from the property and tourism sector will bear fruit, but he acknowledged that more work needs to be done for the Phase III clinical trials in the country to start as soon as possible.
“We just need to stay focused with the next course of action in compiling the Phase I and Phase II clinical trials data and prepare the Phase III trial protocol to be submitted to the relevant authorities. Thereafter to move forward with the approval process before commence the trials.”
Boo said Yong Tai is willing to be the first from the private sector to initiate and sponsor trials in the country with the guidance from experts so that Malaysia could achieve herd immunity as soon as possible for daily life to return to normal .
The virtual signing ceremony was witnessed by Senator Jaziri Alkaf Abdillah Suffian. Also present at the ceremony is Clinical Research Malaysia CEO Dr. Akhmal Yusof. At the same event, Yong Tai also signed a service agreement with BCA International Sdn Bhd, which was represented by its managing director Mazliza Mahdzar.
