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Kalbe Farma signs US$ 1.1 billion Covid-19 drug license agreement with Genexine

19 February 2021 11:10

JAKARTA. PT Kalbe Farma Tbk (KLBF) through its subsidiary, PT Kalbe Genexine Biologics (KGBio), has signed a license agreement with Genexine amounting to US$ 1.1 billion.

With the agreement, KGBio can develop and commercialize the immuno-oncology drug GX-I7 (Efineptakin Alpha). Currently, KGBio has provided an upfront payment of US$ 27 million. Later, KGBio will provide a royalty of 10% from the sales of the GX-I7.

"The GX-I7 drug licensing agreement between KGBio and Genexine is a very strategic and important agreement for KGBIo to build a product portfolio so that it can provide innovative therapeutic products to 655 million people in Southeast Asia," said Sie Djohan, President Director of KGBio, in a release accepted by idnfinancials.com.

For information, KGBio development and commercialization area for the GX-I7 includes the Middle East, Oceania, India, Africa, as well as all Asian regions apart from China, Japan and Korea. "Through this license, collaboration will be built between KGBio and many global partners which will take KGBio to the next level," said Djohan.

KGBio is currently conducting phase-2 clinical trials as a Covid-19 drug in Indonesia. With this drug, the company hopes that the risk of worsening Covid-19 patients can be reduced. Especially in elderly patients. (KR/LM)

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