South Korea’s pharmaceutical company HLB on Wednesday signed a memorandum of understanding (MoU) with Vietnam’s Nanogen Pharmaceutical Biotechnology JSC to acquire the rights to supply the latter’s COVID-19 vaccine worldwide.
HLB will supply Nanogen’s Nano Covax COVID-19 vaccine to all countries except Vietnam and India when the jab is approved for use, according to The Korea Times.
Nanogen will transfer its vaccine production technology to HLB, while the South Korean firm will produce and sell the jab as well as implement its global marketing campaigns.
The negotiation is expected to conclude once scientists of both firms complete reviewing the clinical data on Nano Covax within the next three months.
Nano Covax is the only COVID-19 vaccine candidate in Vietnam that has entered the third phase of clinical trials with the participation of approximately 14,000 volunteers.
Nanogen is now waiting for the Ministry of Health to approve its vaccine for emergency use in the Southeast Asian country.
After the third phase is complete, Nanogen will sign up for the World Health Organization’s approval.
A sample of Nano Covax vaccine was previously sent to the organization in July.
In early August, India’s Vekaria Pharmaceutical Group also signed an agreement with Nanogen regarding the supply of Nano Covax vaccine in the South Asian country.