Arcturus Therapeutics Stock Jumps On Establishment Of COVID-19 Vaccine Plant In Vietnam
Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT) has collaborated with Vinbiocare to establish a manufacturing facility in Vietnam for its investigational COVID-19 vaccines for sale and use within Vietnam.
Under the terms of the arrangement, Vinbiocare will, with consultation from Arcturus, build out a manufacturing facility in Vietnam.
Arcturus will provide Vinbiocare access to proprietary technologies and processes to manufacture Arcturus' investigational COVID-19 vaccines.
Arcturus will provide Vinbiocare with an exclusive license to manufacture the vaccines solely for distribution in Vietnam.
Technology transfer is underway.
Vinbiocare will make an upfront payment of $40 million and be responsible for costs associated with the technology transfer.
Vinbiocare will also pay for mRNA drug substances supplied by Arcturus and royalties on vaccines produced at the facility.
Arcturus COVID-19 vaccine candidate utilizes self-transcribing and replicating (STARR) mRNA technology and is delivered with Arcturus's lipid-mediated delivery system called LUNAR delivery system.
Price Action: ARCT shares are up 4.92% at $32.85 during the premarket session on the last check Monday.
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