Genexine agrees to sell investigational coronavirus vaccine to Indonesia

2021.04.28 14:22:31 | 2021.04.28 15:31:55

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South Korea’s Genexine has agreed to provide 10 million doses of its investigational coronavirus vaccine GX-19N to Indonesian pharmaceutical company PT Kalbe Farma prior to official regulatory authorization, the Korean company announced on Tuesday.

Kalbe will purchase the vaccine from Genexine for distribution across Indonesia. Part of vaccine sales will be paid to Genexine as royalties.

Kalbe will also pay clinical trial costs in lieu of initial upfront payment. The two companies are also discussing for additional purchases.

Last month, the two submitted an IND for phase 2 and 3 clinical trials to Indonesian health authorities.

Genexine has developed a DNA vaccine against new corona virus through its consortium joined by GenNBio, SL VaxiGen, Binex, Postech, International Vaccine Institute (IVI), and KAIST. Some 150 people received the investigational vaccine in a phase 2a study in Korea.

Kosdaq-listed Genexine shares fell 6.12 percent to end at 113,600 won ($102.07) on Wednesday.

By Park Yoon-gyun and Minu Kim

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