KUALA LUMPUR (Aug 17): Mechanical and electrical engineering works specialist Bintai Kinden Corp Bhd, which saw its share price soar to a three-year high today, said it is venturing into developing a vaccine for Covid-19 through a partnership with a US pharmaceutical company.
In a filing with Bursa Malaysia, Bintai Kinden said it inked a memorandum of understanding with vaccine research firm Nugenerex Immuno-Oncology (Generex) to fund and manage a synthetic peptide vaccine for Covid-19.
Generex, which is principally involved in robust research and development in creating on-demand peptide vaccines to control pandemic viruses, has developed its proprietary, patented li-Key immune system activation technology that holds promise for stopping viral outbreaks like the current pandemic.
Its share price closed 6.5 sen or 44.83% higher at 21 sen today, valuing Bintai Kinden at RM60.4 million. Year-to-date, the company has seen its share price grow 82.61% from 11.5 sen.
With investors are paying closer attention to the counter today, trading volume jumped to 41.86 million, more than 10 times higher than the 200-day average of 411,502.
Since the beginning of the Covid-19 pandemic, healthcare-linked companies have seen their share price soar as the pandemic boosted demand for healthcare products such as gloves and personal protective equipment.
More specifically, vaccine-related counters have been buoyed by optimism for a Covid-19 vaccine.
Duopharma Biotech Bhd and Pharmaniaga Bhd, the government’s pick to undertake the fill and finish processes for the Covid-19 vaccine once it is found, have both surged over 100% year to date.