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Novavax Partners With Poland's Mabion For COVID-19 Vaccine Production: Bloomberg

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Novavax Partners With Poland's Mabion For COVID-19 Vaccine Production: Bloomberg

Poland-based biotech firm Mabion has signed a preliminary agreement to manufacture Novavax Inc's (NASDAQ: NVAX) COVID-19 vaccine, reports Bloomberg.

  • The polish company will get 40 million zlotys ($11 million) in loans and equity from a state-run fund to support doubling its production capacity in Poland.
  • Mabion will start commercial-scale production trials of Novavax shot.
  • European Union countries such as Poland have struggled to secure supplies of COVID-19 vaccines sourced by Brussels, leading some to step up their efforts.
  • It has also secured eight million doses of Novavax's vaccine as part of EU joint purchases. The vaccine is yet to be approved by EU regulators.
  • Mabion said it expects the technology transfer and verification to be complete by the middle of 2021.
  • The country had to slow the pace of its vaccinations earlier this year due to supply shortfalls. Faced with a renewed surge in virus cases, Poland is now considering buying doses from China.
  • Price Action: NVAX shares are down 3.6% at $198.6 in market trading hours on the last check Wednesday.
 

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Posted-In: Bloomberg COVID-19 VaccineBiotech News Health Care Contracts General Best of Benzinga

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