Home Business Chinese company acquires Canadian vaccine technology for US$500 million | China Vaccines | Epoch Times

Chinese company acquires Canadian vaccine technology for US$500 million | China Vaccines | Epoch Times

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[Epoch Times September 14, 2021](Epoch Times reporter Zhou Xing Toronto reported) Chinese biopharmaceutical company Everest Medicines Ltd. will obtain mRNA COVID-19 vaccine license from Providence Therapeutics Holdings Inc. in Canada . This move is believed to be that the company hopes that its vaccine will be easily approved by regulatory agencies after it is launched in China.

According to a Bloomberg News report on Monday, Genting Sunshine will obtain the right to use the Providence vaccine in Greater China, Indonesia, Singapore and Thailand. The company said in a statement on Monday that it will pay up to $100 million in cash for the vaccine and mRNA technology and pay up to $100 million in profit sharing. If you use Providence’s mRNA technology platform to develop more products, it will also include another payment of up to $300 million.

Although nearly 1 billion people in China have been fully vaccinated, China does not yet have an mRNA vaccine. Most of the population is vaccinated with inactivated vaccines from Sinopharm Group and Kexing Biotech. Research has found that these vaccines are less effective. The sale of BioNTech SE’s mRNA vaccine by Fosun Pharmaceutical Group Co., Ltd. in mainland China has not yet been approved by regulatory agencies. Part of the reason is believed to be political sensitivity. It may not be easy to introduce foreign mRNA vaccines in China.

Genting Shinyao CEO Kerry Blanchard said in an interview that if approved, Genting Shinyao-Providence vaccine may be used as a vaccine booster in China, given that the majority of the population has been vaccinated. However, in other Asian countries within the business scope of Genting Xinyao, primary vaccination is still required.

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Blanchard said he believes that most adults in China may need booster immunization at some point, and the older they are, the faster their immunity will decline. “People need at least one booster vaccine.”

Genting Xinyao’s acquisition of all the technology transfer of Providence vaccine means that its vaccine may be considered as a vaccine made in China. In contrast, Fosun only produces and distributes BioNTech vaccines.

However, Providence’s vaccine has just completed the first phase of trials in Canada, and it is difficult to determine the timetable for the development of the vaccine. Blanchard said that the third phase of the trial may begin this year or early next year.

Try to use foreign technology to launch a Chinese vaccine

Blanchard said that although the immune efficiency of the Providence vaccine is still poorly understood, the immunogenicity and neutralizing effect of the vaccine against the original strain of COVID 19 and its variants are “comparable to Pfizer and Modena vaccines.” Just as good or better”.

China’s delay in reviewing the BioNTech-Pfizer vaccine has sparked speculation that the Chinese government may be trying to avoid admitting that China’s vaccines are not as effective as Western vaccines.

“We believe that producing vaccines locally is the correct method, and this is the method we will adopt.” Blanchard said, “I believe that it is important that we have the ability to transfer comprehensive technology to China.”

The Chinese native mRNA vaccine developed by Walvax Biotechnology Co. is undergoing the third phase of trials, and efficacy data is expected to be obtained by the end of this year. Sinopharm said it is also working on developing an mRNA vaccine against COVID 19 variants.

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Editor in charge: Yue Yi

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