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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