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GlobeNewswire
Publishing date: Apr 27, 2021  â¢Â 51 minutes ago  â¢Â 4 minute read  â¢Â
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Generex receives $2 million payment from Chinese partners to provide research results, data, and necessary documents to support an IND submission to the Chinese National Medical Products Administration (NMPA)
MIRAMAR, Fla., April 27, 2021 (GLOBE NEWSWIRE) â Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that in connection with its partnership with the National Institute for Viral Disease Control and Prevention, Chinese Centre for Disease Control and Prevention, Beijing Youfeng International Consulting Co., Ltd and Beijing Guoxin Haixiang Equity Investment Partnership, the company has received a $2 million development payment from Beijing Youfeng Biological Technology, Ltd (Youfeng-BI). In exchange for this payment, Generex will provide to Youfeng-BI and our Chinese partners research results, data, regulatory documents, and manufacturing methods to support the filing of an Investigative New Drug (IND) application for the Ii-Key-SARS-CoV-2 Vaccine in China. Pursuant to the partnership, the companyâs partners in China are responsible for the development and regulatory approval of the Ii-Key COVID Vaccine by the NMPA in China. All clinical trials will be conducted under guidelines of the International Council on Harmonisation (ICH), so the data can be used for submission to FDA, EMEA, and other international regulatory agencies; Generex Biotechnology Corporation and NuGenerex Immuno-Oncology maintain the rights to the Ii-Key-SARS-CoV-2 Vaccine in the rest of the world outside China.