Hyderabad, June 1 : Canada-based Providence Therapeutics Holdings Inc and Vaccine maker Biological E Limited (BE) Today announced the execution of a term sheet for the licensing and collaboration of mRNA Covid-19 vaccine.
BE will run a pivotal trial in India and seek Emergency use authorization (EUA), BE, the Hyderabad-based Pharmaceuticals and Biologics Company said in a release here.
Under the collaboration, sale by Providence of up to 30 million doses of Providence’s proprietary messenger RNA vaccine, PTX-COVID19-B, to BE and other End-buyers.
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.
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, the release said.
BE will be responsible for all clinical development and regulatory activities for the mRNA vaccine in India and other jurisdictions licensed by the vaccine maker.
“This initiative is an important commitment by a Canada-based company to help India and other nations vaccinate their citizens against COVID19. Providence was founded to serve patients, and this commitment by Biological E allows us to achieve that essential goal,” said 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. 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 of Biological E Limited.
The financial terms of the transaction have not been disclosed.(UNI)