Benzinga | Aug 2, 2021 09:08AM EDT

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.