The world is truly getting smaller, making joint efforts by more than one company at once that much easier, and much more imperative.
In the health-care field, two such companies bonded together Tuesday, which could have an effect on the overall sector before the week is out. As the session moved into its last hour, health-care in the U.S. was slightly lower than breakeven, while in Canada, the sector gave back 1.4%.
Miramar, Fla.-based Generex Biotechnology Corporation (OTC:GNBT) made waves by signing a non-binding memorandum of understanding (MOU) with Malaysia-based Bintai Kinden Corporation. The two will develop and commercialize the Ii-Key-SARS-CoV-2 coronavirus vaccine. The Ii-Key-SARS-CoV-2 vaccine is designed as a “Complete Vaccine” that has the potential to induce the T-Cell and antibody immune responses that can provide protective immunity with long-lasting immunologic memory against SARS-CoV-2 in a highly specific manner to ensure safety.
With this MOU, Bintai has agreed to pay Generex up-front development fees and back-end licensing payments, and, ultimately, 100% of the funding required for the commercial development of the Ii-Key-CoV-2 vaccine. This includes laboratory work, manufacturing, regulatory filings and the clinical development program for regulatory approval of the vaccine in Malaysia. Additionally, upon approval of the Ii-Key-CoV-2 vaccine in Malaysia, Generex will earn royalties on sales of the vaccine with potential revenues of up to $150 million.
Shares in GNBT acquired 5.2 cents, or 12.4%, to 48.09 cents, on volume topping 912,000 shares.
Still with health, but across the northern border, Edmonton-based Ceapro Inc. (TSX-Venture:CZO) provided an update on its ongoing collaboration with Hamilton’s McMaster University to develop an inhalable therapeutic for COVID-19.
To assess the potential of PGX-processed yeast beta-glucan (PGX-YBG) in practical application for COVID-19, the project was designed first and foremost to optimize the size and morphology of the best PGX-YBG for immunomodulation. Another objective was to examine tolerability and safety of inhaled PGX-YBG in naïve animal models. The first milestone of the project was fully achieved, and the second milestone is near completion.
CZO shares raced ahead 11 cents, or 15.9%, to 80 cents, on volume of 251,000 shares.
