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Genexine, the South Korean biotechnology company, is said to have made a deal with PT Kalbe Farma, an Indonesian pharmaceutical firm. The contract is about the supply of 10 million doses of the COVID-19 vaccine that it is currently developing.
The vaccine supply deal
The information about Genexine’s agreement with the Indonesian pharma was reported on Tuesday, April 27. While the Korean company is not done yet with the clinical tests for its vaccine brand, PT Kalbe Farma is confident enough for its effectiveness since it already placed an order.
But then again, The Korea Herald pointed out that the deal is not fully done yet. This is because the sale will only be possible if the government of Indonesia will approve the Genexine vaccine for emergency use.
Once everything is ironed out, the purchase of 10 million doses of coronavirus vaccine that Genexine named GX-19NA will be finalized. At this point, it was mentioned that the shot is still in the second phase of the clinical trial. A third one is expected to follow soon.
After the purchase, it was reported that Genexine will be receiving royalties based on sales of the vaccine through PT Kalbe Farma.
Phase 3 of the clinical trial
Genexine and PT Kalbe Farma have submitted applications for the second and third stages of the trials to the Indonesian Food and Drug Authority. The latter will be funding the cost of the clinical studies and since this is the arrangement, Genexine will not be given a downpayment for the order of 10 million doses, Korea Bio Med reported.
They also forwarded an application for an investigational new drug (IND) to the Indonesia National Agency of Drug and Food Control. It has been almost a month since the submission and they are waiting for approval.
"Indonesia has faith in the safety and efficacy of GX-19N, promised to conduct the joint clinical trials, and pre-ordered the vaccine candidate," Woo Jung Won, Genexine’s chief executive officer, said. "We will provide a safer Covid-19 vaccine for Indonesia and Korea through the successful development of GX-19N."
Meanwhile, no serious adverse effects were noted in the clinical trials that have been done so far.
