Genting Xinyao is licensed to globally develop and commercialize the 3CL protease inhibitor from the Singapore Experimental Drug Research and Development Center, which is expected to become a class-leading oral anti-COVID-19 drug

Under the terms of the agreement, Genting Sunyao will receive an exclusive worldwide license to a group of 3CL protease inhibitors developed by EDDC, which have also been shown to be effective against 2019-nCoV and its variants, as well as other coronaviruses, such as the coronavirus that causes Middle East Respiratory Syndrome.

The candidate drug EDDC-2214 is a novel and potent 3CL protease inhibitor against 2019-nCoV, which is being developed as an oral anti-2019-nCoV drug

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EDDC aims to develop therapeutics and diagnostics to save and improve the lives of patients in Singapore, Asia and other parts of the world

Professor Damian O'Connell, MD, Chief Executive Officer of EDDC, said: "This agreement with EDDC allows us to fully realize the potential of EDDC-2214 for the benefit of patients around the world

Under the terms of the transaction, EDDC will receive an initial down payment , subsequent clinical and commercial milestone payments and specific royalties on net product sales

Genting Sunyao is committed to ensuring the global accessibility and affordability of all its COVID-19 medicines