PENNY stocks are getting more creative with their COVID-19 vaccine play.
Engineering-based Metronic Global Bhd announced that the company through its subsidiary Metronic Medicare Sdn Bhd has inked a joint research and development (R&D) agreement yesterday (Feb 1) with Joysbio (Tianjin) Biotechnology Co Ltd to undertake research on the COVID-19 Neutralising Antibody Test Kit.
This test kit is meant to analyse a patient’s level of immunity against future COVID-19 infection after the patient is vaccinated. If the patient’s immunity against COVID-19 is below acceptable level, the patient may be recommended to take additional dose of vaccine.
Moreover, the test kit can also detect a COVID-19 infected person.
“In this 12-month R&D agreement, Metronic would be investing a maximum of US$2 mil, of which US$1 mil will be the initial payment for the start-up fund,” Metronic CEO-cum-executive director Hoo Wai Keong pointed out.
“According to the R&D agreement, Joysbio grants Metronic a royalty-free and perpetual license to use Joysbio’s intellectual property prior to the agreement.”
Hoo further noted that Joysbio’s production capacity is one million test kit per day, making it the largest test kit manufacturer in China.
Recall that on Nov 20 last year, Metronic announced that it stood to gain an estimated gross profit of RM120 mil to RM180 mil should the exclusive distribution partnership between Metronic Medicare and Medigen Vaccine Biologics Corporation (MVC), an international pharmaceutical company listed on the Taiwan Stock Exchange, bore fruit.
Earlier today, Bintai Kinden Corp Bhd announced a diversification from its COVID-19 vaccine distribution business to become an exclusive supplier of the Greenie Medi Cold Chain Box designed for the storage and distribution of COVID-19 vaccine.
Bintai Kinden which is also an engineering-based company has taken a plunge into numerous business activities over the past one year – from COVID-19 vaccine distribution to property development prior to its vaccine storage venture.
The medical freezer box will enable the temperature in the box to be kept at an optimal level to ensure the safe delivery of vaccines, according to Bintai Kinden managing director Ong Choon Lui.
“The product is designed for the exclusive use in transporting and storing medical products at very low temperatures,” Ong pointed out. “It keeps the inbox temperature at -70℃ for up to 120 hours.” – Feb 2, 2021