UCrest has followed through with the MOU signed with the Russian Direct Investment Fund earlier this year, and now moved on to a master service agreement where it will manufacture the Russian developed Sputnik V vaccine.
These vaccines will be purchased by subsidiary of RDIF, Human Vaccine which then will look at distributing to various buyers across the region. Under the agreement UCrest will be manufacturing and transfer Covid-19 Vaccine by various contract manufacturers through available facilities. It will also facilitate and manage the contract manufacturers to perform the manufacturing and transfer of the products to Human Vaccine.
Based on the latest development, all three contract manufacturers that UCrest has announced earlier for the technology transfer and production of vaccines have been approved by RDIF. The one year agreement will offer the group a boost in its financials as vaccine demand is expected to continue till end 2022 and beyond.
Sputnik V or Gam-COVID-Vac is an adenovirus viral vector vaccine for COVID-19 developed by the Gamaleya Research Institute of Epidemiology and Microbiology in Russia. The vaccine is currently being used in Russia, Vietnam, Bahrain, UAE. Philippines and been approved in over 59 countries. By February 2021 over a billion doses of the vaccine had been ordered for immediate distribution worldwide.
UCrest Berhad is a technology based medical solutions provider, with operations in Singapore, China, Taiwan and Russia.