Business Companies 10 Jun 2020 Panacea Biotech to p ...

Panacea Biotech to partner with US firm Refana for COVID-19 vaccine

REUTERS
Published Jun 10, 2020, 12:03 pm IST
Updated Jun 10, 2020, 12:03 pm IST
The collaboration aims to make more than 500 million doses of vaccine candidate, with over 40 million doses to be available early next year
Indian firm Panacea aims to make COVID-19 vaccine. (AFP Photo)
 Indian firm Panacea aims to make COVID-19 vaccine. (AFP Photo)

BENGALURU: Indian biotech firm Panacea Biotec Ltd said on Wednesday it would partner with U.S.-based Refana Inc to make a potential vaccine for COVID-19.

The collaboration aims to make more than 500 million doses of the vaccine candidate, with over 40 million doses expected to be available early next year, Panacea said in a statement to stock exchanges.

 

“Under the collaboration, Panacea Biotecis advancing its response to address the unprecedented challenges of COVID-19 by collaborating with Refana Inc. USA to make Covid-19 vaccine widely accessible around the world in an equitable manner through a joint venture company to be based in Ireland,” Panacea Biotec said in a press release.

Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories, it said.

Panacea’s shares jumped 20% in morning trading on India’s National Stock Exchange.

 

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Location: India, Karnataka, Bengaluru




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