Zhongsheng Pharmaceuticals intends to contribute $515 million to Cosing Zhongwei

On December 7, China Biopharmaceuticals announced that hong Kong Jun-Kel Co., Ltd., a wholly-owned subsidiary, had entered into an agreement to invest $515 million in beijing-based Kexing Zhongwei Biotechnology Co., Ltd. for further development, capacity expansion and production of the new crown inactivated vaccine Kellefo, as well as other development and operation activities of Kexing Zhongwei.Upon completion of this capital contribution, China Biopharmaceuticals will have a 15.03 percent interest in the registered capital of Coxing Zhongwei. Cossing Zhongwei will be recorded in the company's financial statements as an associated company.On the same day, Kexing Holding Biotechnology Co., Ltd. announced on its official website that its subsidiary, Beijing Kexing Zhongwei Biotechnology Co., Ltd., had initiated a phase I./II. clinical study in the underage group of Kerrefour ™, a new crown inactivated vaccine.On June 14 this year, Koxing announced that the new crown vaccine Phase I./II. clinical study (0,14 procedures) was blinded, preliminary results show that the vaccine has good safety and immunogenicity. The new crown inactivated vaccine was also presented at the China International Trade Fair in Services. In mid-October, Zhejiang launched an emergency vaccination of the new crown vaccine, using the vaccine from Koxing. At present, its Phase III clinical research is being carried out in Brazil, Indonesia, Turkey, Chile and other countries. (Sina Pharmaceutical News)