Abpro helped with Communist China's Propaganda on COVID-19 Antibody

 

Abpro helped with China's Propaganda

On February 2, 2021, Abpro announced a positive first phase result, proving that ABP 300 has good safety and pharmacokinetic characteristics. ABP 300 is a neutralizing antibody therapy for the treatment of COVID-19. It is based on the paper co-authored by Zhiming Yuan, director of the P4 laboratory of Wuhan Institute of Virology, Yun Peng, Yanfeng Yao and others of the Wuhan Institute of Virology and personnel of Mabwell (Shanghai) Bioscience Co., Ltd., whose experiments were completed in the National P4 Laboratory of the Wuhan Institute of Virology. This paper was supported by the CCP's national key research and development funds. 

ABPRO's Infectious Diseases Advisory Board: Daniel Kuritzke, Director of the Infectious Diseases Department of Brigham and Women's Hospital, Professor of Harvard Medical School, former Vice President of Bristol-Myers Squibb, Steven Schnittman, Head of NIAID/NIH's HIV Medical Department, Merck , Bristol-Myers Squibb, George Hanna, former head of treatment/infectious diseases at Massachusetts General Hospital.

Abpro, the contract counterparty of Mabwell (Shanghai) Bioscience Co., Ltd., has set up a scientific advisory committee. George C. Tsokos, Bob Langer, Ronald Levy, Laurie Glimcher, Harvard Medical School professor Shiv Pillai, and former US National Science Foundation director Rita Colwell appointed by former US President Clinton are members of the Scientific Advisory Board.

Contract of 122 million dollars signed by Abpro with Mabwell (Shanghai) Bioscience Co., Ltd.

ABPRO will be granted a license for the development and commercialization of COVID-19 antibody product 9MW3311 in the ABPRO area by Mabwell. ABPRO will pay Mabwell a milestone payment of up to $122 million after 9MW3311 achieves the specified milestone event, plus The sales share of the single-digit percentage of the product's sales. Two models of 9MW3311 are authorized for emergency use in the United States. 

Suppliers of Mabwell

It received 1.21 million yuan non-clinical research services from Shanghai Institute of Materia Medica, Chinese Academy of Sciences in the first half of 2021. In 2020, it received 6.46 million yuan non-clinical research services from Shanghai Institute of Materia Medica,Chinese Academy of Sciences and  2.7 million yuan non-clinical research services from  Wuhan Institute of Virology. In 2020, Shanghai WuXi AppTec New Drug Development Co., Ltd. and its related parties provided 11.43 million yuan of  various services. 

Mabwell received clinical trial service from the 307th Hospital of the People's Liberation Army in the first half of 2021, the amount of which was 1,607,100 yuan.

 Jinchao Zhang, the director and deputy general manager of Mabwell, is the most suspicious: After working as an assistant researcher at the Military Medical Research Institute of the Chinese People's Liberation Army, he went to a Danish multinational company to do research, then went to Canada to do postdoctoral research, and then returned to China. The Chinese People's Liberation Army's Chinese Academy of Military Medical Institute participates in the research and development of new coronaviruses and brain-controlled weapons.

Independent director of Mabwell, Qing Xu, used to serve as the deputy director, deputy chief physician and associate professor of the Department of Oncology, Changzheng Hospital of the Second Military Medical University of the Chinese People's Liberation Army, and has long been engaged in basic and clinical trials of oncology; as a visiting scholar at the H. Lee. Moffitt Cancer Center of the University of South Florida, USA Do post-doctorate research and then return to China. It is also a similar situation in the cases prosecuted by the US Department of Justice. The Second Military Medical University participated in the search for Zhoushan bat coronaviruses which are used to gene-engineer COVID-19.

Audit procedures on the Transaction Records

In response to the above records, Ernst & Young Huaming Certified Public Accountants implemented the following verification procedures: on the basis of sampling, inspection of supporting documents such as R&D-related contracts, invoices, payment receipts, and letters to verify contracts and payment amounts, R&D progress, etc.; for large amounts R&D expenses are incurred, check the background information of the counterparty and select a certain sample for correspondence or interviews, etc., the expenses paid after the sampling inspection period, and perform the cut-off test of the R&D expenses, obtaining contracts for clinical service fees and technical service fees, and checking whether the expenditure is reasonable or not, check the terms of the contract, and check whether the amount of expenses that should be included in the reporting period is consistent with the book, and the sampling ratio exceeds 84%. Ernst & Young believes that R&D expenditures are real