On May 20, 2020, CanSino Biologics Inc. ("CanSinoBIO") and Precision NanoSystems, Inc. ("PNI") announced a co-development agreement of an mRNA lipid nanoparticle (mRNA-LNP) vaccine against COVID-19.
The parties will leverage PNI's proprietary RNA vaccine platform, comprising of lipid nanoparticle delivery system and the NanoAssemblr® manufacturing technology, to rapidly advance a COVID-19 mRNA-LNP vaccine candidate towards human clinical testing and pursuant to regulatory approvals, commercialization in different regions.
PNI will be responsible for development of the mRNA-LNP vaccine formulation and CanSinoBIO will be responsible for antigen design, pre-clinical testing, human clinical trials, regulatory approval and commercialization. CanSinoBIO has rights to commercialize the vaccine product in Asia (except Japan) with PNI retaining rights for rest of the world. The agreement includes undisclosed payments and royalties.
PNI, based in Vancouver, British Columbia, is a global leader in technologies and solutions for the development and manufacture of nanomedicines. CanSinoBIO (HK: 6185) headquartered in Tianjin, China, commits to research, production and commercialization of innovative vaccines for China and global public health security.
Paul Armitage of Gowling WLG in Vancouver advised PNI on the negotiation of this agreement, with Le Rong and Nelson Tian of Gowling WLG's Guangzhou office advising on Chinese law aspects.