“Under the collaboration, Panacea Biotec
is 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.
The collaboration aims to bring to patients a whole inactivated virus-based vaccine for Covid19. Under the collaboration, Panacea Biotec will be responsible for product development and commercial manufacturing, with the Joint Venture Company undertaking clinical development and regulatory submissions across the World.
Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories, it said.
The company's management said that after the collaboration with Refana, Panacea Biotec aims to manufacture over 500 million doses of Covid-19 candidate vaccine, with over 40 million doses expected to be available for delivery early next year.