MEMORANDUM OF AGREEMENT ENTERED INTO BETWEEN HWGB BIOTECH SDN BHD (HWGB BIOTECH) AND E-MO BIOLOGY INC. (EBI)

We refer to your Company’s announcement dated 6 August 2020, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1)        Paid- up share capital of EBI.

2)        Background information such as educational, nationality and past working experiences of Qiyi Xi, Wei Chen, Lily Chen and Yan Wang.

3)        Filing dates for all 5 PPA as well as the process & procedures, estimated time required to formalise the patent application.

4)        Further information on Group IV viruses and further elaboration on how the PPA will assist EBI in conducting the phase IV clinical trials referred to in item 5 below.

5)        In relation to the Initial Investigational New Drug (“IND”) application submitted by EBI on 15 June 2020 (i.e. IND 23321) for phase IV clinical trials for new indications, please clarify what type of drugs were submitted to the United States Food and Drug Administration (“FDA”) for the IND application and when does EBI expect to receive the FDA results and approval.

6)        In relation to the salient terms of the Memorandum, please clarify the following:

(a)       Under Conditions Precedent (“CP”):

(i)        2.1(b) states the PPA will be assigned by the owners / inventors to EBI on terms agreeable to HWGB Biotech.  In this respect, please provide the status of the assignment and the salient terms to be agreeable to HWGB Biotech; and

(ii)       2.1(c) states “confirmation on collaboration / engagement of the relevant laboratories”.  In this respect, please provide the list of relevant laboratories and the type of collaborations / engagements with these laboratories;

(b)       Under HWGB Biotech’s Entitlement:

Please explain whether HWGB Biotech has the required and relevant expertise in the medical field to undertake the relevant production and distribution of the New Indication given HWGB Biotech will have all exclusive rights for the production, distribution and sale of the New Indication in Southeast Asia countries. In this regard, please provide the following additional information:-

(i)        details of the production facilities, including the location, production capacity and whether such facilities are subject to any government authorities’ approval / consent; and

(ii)       the distribution channel for the sale of the New Indication;

(c)       Apart from the Investment Sum, please state whether there is any other obligations and / or additional outlay by HWGB Biotech, and if so, to indicate the indicative amount.

7)        In terms of approvals from the relevant authorities, please indicate whether HWGB Biotech has applied for the necessary approvals from the Southeast Asia countries and the status of the application.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

Listing

Regulation
 

Cc : Market Surveillance Dept. , Securities Commission (via fax)