Generex Provides Coronavirus Update: Generex Receives Contract from Chinese Partners to Develop a COVID-19 Vaccine Using Ii-Key Peptide Vaccines
GENEREX BIOTECHNOLOGY (GNBT)
US:NASDAQ Investor Relations:
generex.com/investor
Company Research
Source: GlobeNewswire
-- Terms approved to proceed with collaborative effort with international consortium MIRAMAR, Fla., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that the company has received a contract from the China Technology Exchange, Beijing Zhonghua Investment Fund Management Co., LTD., Biology Institute of Shandong Academy of Sciences and Sinotek-Advocates International Industry Development (Shenzhen) Co., LTD. The terms of the contract, which have been agreed to in writing by both parties, include an upfront payment of $1 million to initiate the project work in the United States, a $5 million licensing fee for the Ii-Key technology, payment by the Chinese consortium for all costs and expenses related to the development of a COVID-19 vaccine, and a 20% royalty on each dose of vaccine produced. Joe Moscato, President & Chief Executive Officer of Generex has signed the draft con
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