Zhongsheng Pharmaceuticals intends to contribute US$515 million to Cosing Zhongwei for the development of the new crown vaccine

On December 7, China Biopharmaceuticals announced that Hong Kong Jung-kong Co., Ltd., a wholly-owned subsidiary, had entered into an agreement to invest US$515 million in the further development, capacity expansion and production of the new crown inactivated vaccine, as well as other development and operation activities of Kexing Zhongwei.
the completion of this capital investment, China Biopharmaceuticals will have a 15.03 percent interest in the registered capital of Coxing Zhongwei.
Cosing Zhongwei will be recorded in the company's financial statements as an associated company.
same day, Kexing Holding Biotechnology Co., Ltd. announced on its official website that its subsidiary Beijing Kexing Zhongwei Biotechnology Co., Ltd. in the research of the new crown inactivated vaccine Kelleford ™ underage group I./II. clinical research has been launched.
June 14 this year, Koxing announced that the new crown vaccine I./II. phase clinical study (0,14 procedures) revealed blind, preliminary results show that the vaccine has good safety and immunogenicity.
the new crown inactivated vaccine has also appeared at the China International Trade Fair in Services.
mid-October, Zhejiang launched an emergency vaccination of the new crown vaccine, using the vaccine from Koxing.
phase III clinical studies are being conducted in Brazil, Indonesia, Turkey, Chile and other countries.
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