Canadian firm, Biological E partner for mRNA vaccine to combat Covid-19
Hyderabad-based firm to run pivotal trial in India and seek emergency use authorisation, and target to reach one billion dose production capacity in 2022
Hyderabad: Providence Therapeutics Holdings and Hyderabad-based Biological E executed a term sheet, which 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-COVID19-B, to Biological E and other end-buyers.
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.
Providence will provide the necessary technology transfer for Biological E to manufacture mRNA vaccines in India, with a minimum production capacity of 600 million doses in 2022 and a target capacity of 1 billion doses. The financial terms of the transaction have not been disclosed.
Biological E will be responsible for all clinical development and regulatory activities for the mRNA vaccine in India and other jurisdictions licensed by Biological E.
“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,” indicated Brad Sorenson, CEO of Providence.
“The mRNA platform has emerged as the front runner in delivering the first vaccines for emergency use to combat the Covid-19 pandemic. 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, MD of Biological E.
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