Unless otherwise defined, the abbreviations and definitions used in the announcements dated 14 August 2020 and 2 November 2020 (“Announcements”) shall apply herein.

1. INTRODUCTION

HWGB wishes to announce that HWGB Biotech had on 17 November 2020 entered into a Second Supplemental JVA to include amongst others, an additional patent application recently assigned to EBI.

2. DETAILS OF THE SECOND SUPPLEMENTAL JVA

On 14 August 2020, the Board of Directors of HWGB announced that its wholly-owned subsidiary, HWGB Biotech had on even date entered into a joint venture agreement (“JV Agreement”) (“JV”) with EBI.  The JV is for HWGB Biotech to collaborate with EBI, whereby EBI shall undertake phase IV clinical trials for a new indication which proposes the use of existing poliomyelitis virus vaccines for prevention of the Diseases and the research and development, testing, registration, commercialization and other activities relating to the Patents for the purposes of treating infectious disease, including vaccines, immunological treatment, diagnostic product development and any similar treatments against the Severe Acute Respiratory Syndrome Coronavirus pandemic and other relevant diseases including but not limited to new indications which proposes the use of all types of existing poliomyelitis virus vaccines for prevention of COVID-19 and whereby HWGB Biotech shall invest in the Project.

Subsequently, the Parties had on 2 November 2020 entered into a supplement joint venture agreement (“Supplemental JVA”) in view that a new patent application had been filed by Dr. Qiyi Xie in lieu of the 5 provisional patent applications as stated in the previous JV Agreement.

Further to the Supplemental JVA, Dr. Qiyi Xie (as sole inventor) had on 16 November 2020 assigned a further patent application to EBI. In light thereof, the Parties had on 17 November 2020 entered into a second supplemental joint venture agreement to include the newly assigned patent application and all future patent(s) application(s) filed or assigned to EBI relating to the Vaccine, for the purposes of treating and/or preventing the Diseases and/or the Project to Exhibit A of the JV Agreement.

2.1 Revision of Exhibit A

The Parties agreed that the following shall be added to the Exhibit A of the Supplemental JVA:

“2.    Application Number: 17098449. Title of Invention: VACCINATION AGAINST CORONAVIRUS WITH POLIOMYELITIS VACCINE. Inventor/Applicant Name: Qiyi Xie. Application Type: Utility under 35 USC 111(a).”

“3.    Such other patent application(s) to be filed (whether provisional or non-provisional) and/or patent(s) applications previously filed, for invention(s) relating to Vaccine, for the purposes of treating and/or preventing the Diseases and/or in relation to the Project which has been applied for and/or assigned to EBI, existing now or in the future.”

3. DOCUMENTS AVAILABLE FOR INSPECTION

The Second Supplemental JVA signed by both Parties is available for inspection at the registered office of the Company at Wisma Ho Wah Genting, 1st Floor, No. 35, Jalan Maharajalela, 50150 Kuala Lumpur during normal office hours on Mondays to Fridays (except for public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 19 November 2020.