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news.Sinobiomed has announced that its 82% owned subsidiary, Shanghai Wanxing Bio-pharmaceuticals, has been granted government funding of $1.24 million to continue the clinical trial of its recombinant malaria vaccine and advance its development with partner Second Military Medical University.
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The grant from China’s Ministry of Science and Technology, awarded jointly to Shanghai Wanxing and Second Military Medical University (SMMU), is to support technology development as part of the government’s 11th five-year plan. Two-thirds of the fund will support Shanghai Wanxing’s planned Phase II clinical trial of the patented PfCP2.9 vaccine to be conducted in epidemic areas. The balance of the fund will support the joint development by Shanghai Wanxing and SMMU of a multistage, multivalent vaccine based on PfCP2.9, which is expected to enter into clinical trials in 2009.
Banjun Yang, Shanghai Wanxing’s president and CEO, said: “We are honoured and encouraged that this work by our company and SMMU is recognized and supported by the Ministry of Science and Technology.”