Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) inked a term sheet with Jiangsu Recbio Technology Company Limited for the licensing, supply, and technology transfer of Recombinant Human Papillomavirus (HPV) 9-valent vaccines.
Subject to regulatory approvals, the listed firm will gain exclusive rights to conduct clinical studies and will take charge of the registration, distribution, and commercialization of the HPV-9 Vaccine in Saudi Arabia as well as the MENA region.
The deal holds a one-year duration period from the signing date of 22 January 2024, which may be extended with the approval of both parties, according to a bourse disclosure.
Meanwhile, the contract will involve the import of finished and ready-to-fill bulk forms of the vaccine, followed by local filling and packaging processes overseen by SPIMACO.
It also includes a technology transfer initiative, leveraging Recbio's expertise, knowledge, and experience to facilitate local manufacturing of the HPV-9 vaccine.
The strategic partnership aims to boost accessibility and affordability of the vaccines within the region, ensuring safe and timely access for populations across the Kingdom and the MENA region.
Jerome Cabannes, CEO of SPIMACO, mentioned: “This collaboration with Recbio strengthens SPIMACO’s dedication to advancing Health Transformation in Saudi Arabia, marking a significant milestone in the Kingdom's pursuit of becoming a pivotal hub for pharmaceutical manufacturing.”
In the first nine months (9M) of 2023, SPIMACO recorded net profits worth SAR 40.40 million, compared to net losses valued at SAR 67 million in 9M-22.
