Our China and Singapore Corporate teams have successfully advised China National Biotech Group (CNBG), an existing client of our Beijing office, on its investment to establish a joint venture company with Innova Medical Group in Singapore, to produce and distribute CNBG's COVID-19 vaccines in Singapore and further ASEAN countries.
CNBG is a subsidiary of China National Pharmaceutical Group Co., Ltd. (Sinopharm) and, as the first manufacturer of vaccines and blood products in China and with six Biological Products Institutes in-house, they have been devoted to the research, development, production and supply of biological products since 1919.
As part of CNBG's global COVID-19 vaccines strategy, this joint venture company will be its first investment in Singapore. Setting up a production plant is the first step, and both sides will continue to explore the possibility of setting up further Research & Development and production facilities to cover vaccine registration, marketing and selling, sub-packaging and packaging.
The signing ceremony for the company was held earlier this month, attended by representatives of CNBG, Sinopharm and Innova Medical Group.
Our team leveraged its extensive experience in the corporate, pharmaceutical and intellectual property sectors to tailor commercial terms for the client, including participating in the draft of transaction documents, conducting due diligence, providing legal opinions and other services. The team was responsive to the client's commercial requirements and offered a variety of practical solutions based on local legal practices to help the joint venture be successfully established.
The client was advised by partners John Shi and Shan Lai, managing associate Amy Yang and associate Jessie Tang (Corporate/M&A, Beijing), partner Marcus Chow and associate Jolie Giouw (Corporate/M&A, Singapore), and Aden Chen (IP, Shanghai - a member of the Bird & Bird association team within Lawjay Partners), who advised on licensing and distribution for the project.
John, who is also the Client Relationship Partner, says: "This is our second joint venture project for the client, after setting up their Hong Kong joint venture in aesthetic biotech. The Singapore strategic partnership will help CNBG to get their vaccines with well-proven effectiveness to those who need them more quickly around the world. We are proud to be part of this transaction and make our own anti-pandemic contribution."
Marcus adds: "The Sinopharm vaccine is one of the leading inactivated whole virus vaccines and is recognised by many countries. Through this joint venture, the development and production of the vaccine will help in the efforts for the mass vaccination of the unvaccinated masses in many parts of Asia."
