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A Chinese vaccine manufacturer is considering investing in the Philippines.
The Board of Investments (BOI) met with Yisheng Biopharma Co. Ltd., a Chinese global pharmaceutical company, on Tuesday to discuss the company’s investment ambitions in the Philippines.
The commercial mission was led by Yisheng chairman Zhang Yi, who also met with potential local partners in Manila.
Through its innovative PIKA immunomodulation technology, the Chinese pharmaceutical company is developing and commercializing biotherapeutics for cancer and infectious disorders.
China, Singapore, and the United States are all home to the company.
“During the meeting, Chairman Yi and the Yisheng team discussed how the company is planning to launch Phase III [of its] worldwide multi-center clinical trial for its PIKA rabies vaccine, as well as Phase II-III combined trials for its PIKA COV-19 vaccine,” according to a statement from BOI.
Evariste Cagatan, the BOI’s Executive Director for Investment Promotions, said Yisheng’s investment plans in the Philippines are very timely because the BOI is working on a vaccine self-reliance program with the Department of Health and the Department of Science and Technology to build the country’s vaccine production capability.
The government also intends to begin its vaccine self-reliance program with the production of coronavirus illness vaccines in 2019.
Executive Director of the BOI’s Industry Development Service Yisheng may also look into constructing a manufacturing facility in the country by partnering with local enterprises or working with the government through the National Development Company, according to Ma. Corazon Halili-Dichosa.
“Yisheng can begin operations with a fill-and-finish business arrangement, then go on to formulation and expand its activities in other pharmaceutical manufacturing value chains – which the company accepted as a feasible investment consideration,” according to BOI.