HealthGuard: Registration of Indonesian Subsidiary, Investment in Producing HPV Vaccine

Healthcare Author: EqualOcean News, ChenZhiheng Jun 20, 2024 03:12 PM (GMT+8)

Recently, HealthgGuard completed the registration of its subsidiary in Indonesia and obtained the approval documents from relevant governmental departments. The name of the subsidiary is Asia Future Biomedical LLC, with a registered capital of Rp 110 billion.

The business of this subsidiary includes the manufacturing of human-oriented pharmaceuticals and pharmaceutical human materials, and it is owned 75% by Kunming Kang Le and 25% by Dian Zhong Kang. The purpose of this registration is to invest in the construction of a production base for HPV vaccine preparations in Indonesia, which will help the Company's business expansion.

In view of the business development needs, Beijing Kang Le Wei Shi Biotechnology Company Limited (hereinafter referred to as the "Company") subsidiaries, Kang Le Wei Shi (Kunming) Biotechnology Company Limited (hereinafter referred to as "Kunming Kang Le"), Yunnan Yunnan Dianzhong Likang Industrial Development Company Limited (hereinafter referred to as "Dianzhong Likang"), and Yunnan Dianzhong Likang Industrial Development Co. (hereinafter referred to as "Yunnan Dianzhong Likang Industrial Development Co., Ltd."), which are subsidiaries of Kang Le Wei Shi (Kunming) Biotechnology Co. The registered capital of the proposed subsidiary in Indonesia is RMB50 million, of which Kunming Kang Le and Dianzhong Zhong Kang will contribute RMB37.5 million and RMB12.5 million respectively, accounting for 75% and 25% of the capital respectively.

In the announcement, Kang Le Wei Shi said that the Company obtained the approval for Phase III clinical trial of Nine-valent HPV Vaccine issued by the Indonesian Food and Drug Administration (BPOM) in September 2023 and commenced the Phase III clinical trial in November 2023, and has completed the enrollment of all the subjects and the second dose of vaccination. Based on the current R&D progress, local business and vaccine policy analysis, and market research, the Company plans to build an HPV vaccine preparation production base in Indonesia, and intends to set up an Indonesian subsidiary to carry out related business.

According to reports, the future business of this industrialization base is mainly for the vaccine preparation sub-assembly production, and according to the need to carry out part of the vaccine R & D, clinical research, testing and other businesses in due course, the project is expected to invest a total of 152 million yuan.