3 December 2020 (Kuala Lumpur): U.S. public listed company Rafarma Pharmaceuticals, Inc. has signed a Joint Venture Agreement with Vaccines Lab Sdn Bhd, a subsidiary of Nexgram Biomedic Sdn Bhd, both wholly owned subsidiaries of Bursa Malaysia public listed Nexgram Holdings Berhad.
Under the terms of the agreement, Rafarma and Vaccines Lab with create a new jointly-operated vaccine facility in Indonesia to research, develop, conduct clinical trials and license for various in-demand vaccines including Covid-19.
The joint venture will combine the expertise of Vaccines Lab and RAFARMA with its PJSC Kraspharma (public listed OJSC Krasfarma) and R. & D. Biocogency Laboratories Inc.
RAFARMA plan includes the investment of approximately USD1,000,000,000 (US Dollar One Billion) for the joint venture; whereas VACCINESLAB will provide government joint venture, partnership, regulation, licenses, and incentives for the project. RAFARMA shall subscribe to 51% of JV-company in the form of preference shares, subject to the approval of such ownership by the Indonesian government.
The production capacity of the plant is designed for 500-600 million doses, covering the needs of the entire territory of Indonesia and the ASEAN countries.
About Vaccines Lab Sdn Bhd
VACCINESLAB conduct clinical trial and vaccine distribution in ASEAN countries. The firm is part of Nexgram Biomedic Sdn Bhd, the medical division of Bursa Malaysia public listed Nexgram Holdings Bhd.
About Nexgram Biomedic Sdn Bhd
NEXGRAM BIOMEDIC GROUP is a global bio pharmaceutical company dedicate to develop new medical devices, drugs, and technologies in support of innovations in the medical field. The group subsidiaries include Medical Brands Inc and Tri-G Technologies Sdn Bhd (“TRI-G”) which distribute medical devices, VaccinesLab which conduct clinical trial and vaccine distribution, Medic Data Science (“MDS”) which develops Covid- 19 screening test and vaccine record tracking App using electronic certificates (E-Certs), Tracvirus for real-time record checking in work, school and travel, NMed Industries Sdn Bhd which trade, distribute and invest in medical device and personal protection equipment manufacturing, as well as Glove Alliance Sdn Bhd in medical and disposable nitrile gloves trading, contract manufacturing and distribution.
About Rafarma Pharmaceuticals, Inc.
RAFARMA is a multi-product pharmaceutical company, produces and sells drugs, generic antibiotics, and specialty pharmaceuticals in Russia. It offers cephalosporin-based products, antibiotics of non-Ã structure, and anti-cancer drugs in the form of injections, ampulla packaged products, child suspensions, tablets, and capsules. The company also provides drugs for accidental wounds, inflammatory eye diseases, and immunological disorders. The company has a collaboration agreement with PlantEXT Ltd. to research and manufacture the first medical cannabis suppositories for patients suffering from inflammatory bowel disease. Rafarma Pharmaceuticals, Inc. was formerly known as Johnston Acquisition Corp. and changed its name to Rafarma Pharmaceuticals, Inc. in October 2012. The company is based in Sandy, Utah with a manufacturing and distribution facility in Russia. As of October 19, 2020, Rafarma Pharmaceuticals, Inc. operates as a subsidiary of R. & D. Biocogency Laboratories Inc. Ltd.
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