Hyderabad based Biological E. inks deal with Canadian company to manufacture mRNA vaccines
Hyderabad's Biological E. Limited has inked an agreement with Canada-based Providence Therapeutics to manufacture in its units mRNA coronavirus disease (Covid-19) vaccine, and run a pivotal trial in India for the jab
Hyderabad's Biological E. Limited has inked an agreement with Canada-based Providence Therapeutics to manufacture in its units mRNA coronavirus disease (Covid-19) vaccine, and run a pivotal trial in India for the jab. The company made the announcement on Tuesday, adding that it would seek emergency-use authorisation from India's drug regulator.
“Providence and Biological E announce the execution of a term sheet that sets forth the material terms for a definitive licensing and collaboration agreement and also outlines the terms for sale by Providence of up to 30 million doses of Providence’s proprietary messenger RNA vaccine, PTX-COVID-19-B, to Biological E and other end-buyers,” the companies said in a joint statement.
“This sale represents the sale of all the remaining 2021 Providence production, plus a portion of the early 2022 Providence production, after accounting for the first sale of Providence vaccines to the Province of Manitoba, Canada,” they added.
Biological E will get necessary technological support from Providence to manufacture mRNA vaccines in India, targeting a minimum production capacity of 600 million doses in 2022 and attain manufacturing capacity of 1 billion doses.
Biological E will take charge of everything from clinical development to regulatory activities, for the production of the mRNA vaccine in India and in other jurisdictions licensed by the India pharma company.
“This initiative is an important commitment by a Canada-based company to help India and other nations vaccinate their citizens against Covid-19. Providence was founded to serve patients, and this commitment by Biological E allows us to achieve that essential goal,” said Brad Sorenson, chief executive officer of Providence, in a statement.
The company has not revealed the financial term of the deal.
“The mRNA platform has emerged as the front runner in delivering the first vaccines for emergency use to combat the Covid-19 pandemic. Biological E. is very pleased to be able to work with Providence on its promising mRNA vaccine candidate. We hope to provide India and other countries yet another option to ramp up their efforts towards achieving herd immunity against Covid-19,” said Mahima Datla, managing director, Biological E Limited. (SAM)
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