Sinovac Biotech (NSDQ: SVA) of Beijing out-licensed rights in Indonesia to manufacture and market its inactivated COVID-19 vaccine candidate to Bio Farma, Sinovac's Indonesian partner. Sinovac will supply Bio Farm with bulk vaccine to produce at least 40 million doses of CoronaVac in Indonesia before March 2021, with enough additional vaccine to meet its needs for the rest of 2021. Bio Farma is currently conducting Sinovac's Phase III clinical trial for CoronaVac in Indonesia. Financial details of the agreement were not disclosed.

Bio Farma, a state-owned company, started a 1,620 person Phase III trial of CoronaVac earlier this month. Sinovac said it expects the manufacturing agreement to facilitate development of CoronaVac and to increase cooperation between the two companies in the future.

In June, Sinovac announced it would stage a Phase III trial of CoronaVac in Brazil, where there is an outbreak of the virus. The company also reported that CoronaVac induced neutralizing antibodies 14 days after vaccination in more than 90% of the 600 healthy volunteers who were enrolled in the Phase II trial.

Sinovac produces vaccines that protect against human infectious diseases. Its product portfolio includes vaccines against enterovirus71 (EV71), hepatitis A and B, seasonal influenza, Quadrivalent Influenza vaccine (“QIV”), H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella vaccine and mumps.

The company is developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, and the COVID-19 vaccine.

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Disclosure: none.