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Mabion may become the first company on the Polish biotechnology market to actively produce the Sars-Cov-2 coronavirus vaccine. The company announced in early March the signing of a framework contract for the production of a technical batch of antigen for Novavax’s COVID-19 vaccine candidate NVX-CoV2373.
Mabion and support of Polish Development Fund
Mabion concluded an agreement with Novavax to produce the antigen for the NVX-CoV2373 vaccine. The company has also concluded an agreement with the Polish Development Fund (PFR), under which it will receive financial support from the state. Therefore, Mabion will receive PLN 40m under the agreement with PFR. The agreement was concluded between the parties on March 3, 2021. The funds received will be used to increase the company’s production capacity and to produce the COVID-19 vaccine, which is currently under registration.
The investment amount has been divided into two parts, PLN 30m of the amount is a debt component and functions as a three-year loan. For the remaining PLN 10m, PFR intends to acquire series issue shares in Mabion.
Framework agreement with Novavax until the end of December 2023
Mabion has announced that it will transfer technology to its plant in the first half of 2021. The company intends to produce technical series of the substance being the main ingredient of the candidate for the COVID-19 vaccine developed by Novavax. Then, after the successful completion of the testing phase and obtaining permits, Mabion and Novavax will start talks on contracts and the implementation of potential orders for the production of the COVID-19 vaccine on a commercial scale.