Gastle added, "This facility will make China an important source of influenza vaccine in the Asia region as well as offering significant capacity for the Chinese market which is growing significantly. In five years, the China market is expected to demand up to 500 million influenza vaccine doses annually."
The Microbix-Hunan project brings government ownership into the global vaccine industry at a technological level not previously achieved in China. A substantial investment is being made by Hunan in transferring the land to the joint venture and building the facility through the first phase of financing. As the project progresses, Hunan has agreed to provide additional funding through debt and has guaranteed the purchase of 100 million influenza vaccine doses. On all vaccine produced at the facility, Microbix will receive royalty payments and hold exclusive marketing rights outside of China.
The quality of the vaccine manufactured at the Microbix-Hunan facility will enable it to seek approval by the U.S. Food and Drug Administration and European Medicines Agency.
Mr. He Jihua, Deputy Mayor of Changsha Municipal Government, said, "We believe we have ensured the success of this important public health initiative by choosing Microbix as our partner. They bring expertise in developing vaccine and virology technologies, manufacturing and product distribution. The established collaboration that Microbix holds with world class biomedical and public health organizations will be invaluable."
He also said that "the cooperation between the two countries, Canada and China, and the two companies, Microbix and Hunan Biopharmaceutical in building this vaccine facility will bring greater vaccine capacity and improved health to China and other regions worldwide."
Microbix CEO William J. Gastle and Changsha National Bioindustry Park Deputy Director, Mr. Chen Zhigao, signed the ag
|SOURCE Microbix Biosystems Inc.|
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