Adimmune Corporation (4142) announced on the 25th that Adimmune Corporation, Enimmune Corp., and Innovalues Pte. Ltd., a subsidiary of the Northstar Group in Singapore, signed a Memorandum of Understanding (MOU) and a joint venture will be set up in Southeast Asia by the end of this year. This joint venture will launch vaccines such as seasonal influenza vaccines, EV71 vaccines as well as tetanus vaccines to the Southeast Asia market. It is a crucial strategic move of Adimmune to penetrate the Southeast Asia market.
With a USD 350 million capital, Innovalues owns eight subsidiaries and specializes in biomedicine related investment and marketing strategies. Innovalues has invested in several medical centers in Singapore, Indonesia, and Malaysia and been providing medical services in the areas. The joint venture of Adimmune, Enimmune, and Innovalues will be conducting clinical programs, drug registrations, and product promotion in Southeast Asia. Seasonal influenza vaccines, EV71 vaccines, and tetanus vaccines are the first products to be introduced, followed by other new products such as the future COVID-19 vaccines. This joint venture will become a beachhead for Adimmune to expand in the Southeast Asia market.
Adimmune stressed that on account of the company’s plan for global expansion, an overseas joint venture can promote local clinical program collaborations, drug registrations, and market exploration. The company may expand the operations to other regions as well if the collaboration turns out to be a success.
Adimmune is actively expanding into the global market. The company has acquired Halal certification for its seasonal influenza vaccines, which is a key advantage to enter the Muslin market in Southeast Asia. Meanwhile, this year, Adimmune has received orders for influenza vaccines from China, Thailand, and Central Asia; in which, China placed orders with a 500% increase from last year. The company has also filed the applications for registering its vaccines in Middle Eastern countries.