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Saudi Pharmaceutical Industries and Medical Appliances Corp. announces signing of a Term Sheet (Non-Binding) with Jiangsu Recbio Technology Co. on HPV Vaccines
| Element List | Explanation |
|---|---|
| Introduction | Saudi Pharmaceutical Industries and Medical Appliances Corporation (“SPIMACO") signed a Term Sheet (Non-Binding) with Jiangsu Recbio Technology Co., Ltd. (“Recbio”) on the Licensing & Supply with Technology Transfer of Recombinant Human Papillomavirus 9-valent Vaccine (“HPV Vaccine”). This alliance plays a pivotal role in SPIMACO’s strategic initiatives, reinforcing our dedication to promoting the localization of cutting-edge biopharmaceuticals within the Saudi market. Partnering with Recbio is a vital stride in guaranteeing widespread access to crucial vaccines locally and regionally and, consequently, contributing to the broader enhancement of public health. |
| Memorandum Signing Date | 2024-01-22 Corresponding to 1445-07-10 |
| Counterparty | Jiangsu Recbio Technology Co., Ltd. (“Recbio”) |
| Memorandum Subject | Based on the Term Sheet, and subject to the definitive agreement, which shall be executed within 9 months from signing of the Term Sheet, SPIMACO will receive an exclusive license to: • import HPV in finished product form, ready-to-fill bulk product from Recbio and conduct filling and packaging in Saudi Arabia; • commercialize and distribute Recbio’s HPV vaccine in the Kingdom and the wider MENA region including the application for and obtaining the required marketing authorizations; • localize the production of HPV in bulk format following the conclusion of the technology transfer. |
| Memorandum Duration | 1 year from the date of signing, which may be extended with the approval of both parties |
| Related Parties | Not applicable |
| Financial Impact | Substantial developments in this regard will be announced in due course, and the financial impact will be determined later. |
| Additional Information | • The HPV vaccine prevents HPV infections that can progress to cancer, such as cervical cancer. • Cervical cancer ranks as the 8th most frequent cancer among women in Saudi Arabia and the 8th most chronic cancer among women between 15 and 44 years of age • Backed by the endorsement of the Saudi Ministry of Health, the HPV vaccine is included in the country’s national immunization schedule with two doses required for females at the age of 11 & 12. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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