The parties have signed a binding term sheet, and a definitive agreement is in process and is expected to be executed within the next month.
ImmunityBio will be responsible for manufacturing the vaccine once human trials are completed in South Africa.
Amyris will contribute its RNA technology licensed from the Infectious Disease Research Institute (IDRI).
Amyris will also provide sustainable squalene, an organic compound used to produce the vaccine.
Upon completion of human trials, the joint venture's goal is to deliver one billion doses of the new vaccine in 2022.
Price Action: AMRS shares are down 3.94% at $13.53, and IBRX shares are up 2.14% at $8.62 during the market session on the last check Monday.
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