Jamjoom Pharmaceuticals Factory Co. announces the Signing of a Non-Binding Term Sheet with Pharmaceutical Investment Company, in relation to a potential strategic partnership
| Element List | Explanation |
|---|---|
| Introduction | Jamjoom Pharmaceuticals Factory Co (the “Company”) announces the signing of a non-binding term sheet on 05/05/1447H (corresponding to 27/10/2025G) with Pharmaceutical Investment Company (Lifera), a Public Investment Fund (PIF) company focused on the localization and expansion of Saudi Arabia’s biopharmaceutical sector, in relation to establishing a joint venture to develop, manufacture, and commercialize vaccines, biologics, and biosimilars within the Kingdom of Saudi Arabia (the “Joint Venture”) |
| Memorandum Signing Date | 2025-10-27 Corresponding to 1447-05-05 |
| Counterparty | Pharmaceutical Investment Company (closed joint stock company), a Public Investment Fund (PIF) company |
| Memorandum Subject | The term sheet represents a preliminary non-binding agreement regarding the Joint Venture and its key provisions. The term sheets included the parties’ agreement to negotiate in good faith to reach a final binding agreement as well as other customary provisions like confidentiality and other clauses. |
| Memorandum Duration | The term sheet will terminate at the time the definitive agreements are executed, or in case of termination by either party by way of a 30-day notice to the other. |
| Related Parties | There are no related parties. |
| Financial Impact | There is currently no financial impact as the term sheet is not binding. |
| Additional Information | The term sheet is non-binding, and the agreement on the Joint Venture is subject to the parties reaching a final binding agreement and to any required approvals. There is no assurance that the final agreements will be signed or that the Joint Venture will materialize. |
The Company will announce any material developments in due course including the entry into the definitive agreements with Pharmaceutical Investment Company and the details thereof.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.