Biocon Biologics Limited (BBL) will offer an approximately 15% stake to Serum Institute Life Sciences Pvt Ltd (SILS) at a post-money valuation of $4.9 billion, in return for access to 100 million doses of vaccines per year for 15 years SILS’s upcoming vaccine facility in Pune with commercialization rights for the SILS vaccine portfolio, including COVID-19 vaccines primarily for global markets.
Biocon Biologics Limited (BBL) is a subsidiary of Biocon Limited and Serum Institute Life Sciences Private Limited (SILS) is a subsidiary of Serum Institute of India.
As per the terms of the agreement, BBL will generate a committed revenue stream and associated margins, starting from the second half of FY13.
“This alliance will complement the strengths and resources of two major players in vaccines and biologics,” said Kiran Mazumdar-Shaw, Executive Chairman, Biocon & Biocon Biologics.
Adar Poonawalla, CEO, Serum Institute of India, said, “We look forward to complementing each other’s capabilities and capabilities in vaccines and biologics with the aim of addressing unequal access in both emerging and developed markets for life-saving vaccines and biologics. Huh. “
Mr. Poonawalla will get a seat on the board of Biocon Biologics Ltd.
In addition to vaccines, the strategic alliance will develop antibodies targeting several infectious diseases such as dengue and HIV.
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