Private US firm Refana, which expects its first commercial foray through a COVID-19 vaccine it will develop with Panacea Biotec, has obtained an option to acquire a stake in the Indian firm, with marketing rights to be split with the partners' 50:50 joint venture.
India's Panacea Biotec Ltd. has set up a 50:50 joint venture with US-based privately-owned Refana Inc. to develop a COVID-19 vaccine. As part of the deal, Refana has an option to invest up to $10m in Panacea's shares or convertible securities.
The venture is expected to mark a commercial debut for Delaware firm Refana, which has so far focused on research...
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